Brazil has blocked access to Polymarket and two dozen other prediction market platforms, citing non-compliance with federal gambling laws.

Finance Minister Dario Durigan told reporters in Brasilia on Friday that a total of 28 companies had been blocked for offering what the government considered illegal betting.

Durigan cast the move as part of a broader effort to protect the savings of Brazilians and address rising levels of household debt, a problem President Luiz Inacio Lula da Silva has attributed in part to online gambling. Daniele Cardoso, who oversees betting for the finance ministry, confirmed that Polymarket had been blocked.

Kalshi, another popular site, also appeared offline in Brazil, although Cardoso did not confirm whether it was among the platforms that had been shut down. Polymarket did not immediately respond to a request for comment. A spokesperson for Kalshi said it is reviewing the resolution. Earlier Friday, Brazil’s National Monetary Council issued a resolution banning prediction markets tied to elections and sporting events. Please mention the Source: