Why Countries Are Cracking Down on Polymarket and Kalshi
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Why Countries Are Cracking Down on Polymarket and Kalshi
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This story was originally published on HackerNoon at: https://hackernoon.com/why-countries-are-cracking-down-on-polymarket-and-kalshi.
Brazil banned prediction markets, joining Argentina and Colombia. A hair dryer on a weather sensor and a $409,000 insider bet show why the model does not hold.
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Brazil has banned prediction markets, with platforms like Polymarket and Kalshi shutting down nationwide, citing concerns over investor protection and market integrity. The ban is part of a growing trend of countries restricting access to prediction markets, with the US also facing regulatory challenges.