The President of Brazil, Luiz Inácio Lula da Silva, is facing criticism from the licensed gambling industry after urging the government to ban online gambling in the country....
Kalshi partners with XP to launch Brazil prediction market
Kalshi has established a partnership with Brazilian brokerage firm XP International to launch its prediction market in the country, which will be the operator’s first expansion outside of the U.S.
Under the deal, clients of XP’s Clear Corretora brand who have an international investment account will be able to access Kalshi’s platform and trade on real-world events; however, the Brazilian investors will only be allowed to trade contracts connected to financial and economic markets.
Despite Brazil approving B3 to launch the first prediction market, Kalshi’s move, which was announced on March 9, 2026, made it the first prediction market operator to actually go live in the country. B3 had received approval from the Brazilian Securities and Exchange Commission in February 2026 to become the first prediction platform and has plans to launch by the end of March 2026.
Kalshi co-founder Luana Lopes Lara stated:
“As a Brazilian, I couldn’t be more excited for XP to be Kalshi’s first brokerage partner outside the US. XP is one of Brazil’s largest financial institutions; expanding prediction markets to Brazil is an important step in providing more people around the world with access to fair, safe, and regulated markets.”
At the moment, Brazil doesn’t have a separate regulatory framework for prediction markets, but according to the iGaming laws, operators must have headquarters in Brazil, comply with KYC and certification requirements, and pay a $5.8 million licensing fee.
Two U.S. senators, Jeff Merkley and Amy Klobuchar, introduced a new bill on March 5, 2026, called the End Prediction Market Corruption Act, to fight against federal officials...
