The Polymarket forecasting platform, although banned from operating in Brazil since April, can still be accessed by Brazilian users. Yesterday afternoon, Brazil reached second place in the platform's trending topics ranking, trailing only a soccer match between PSV and Sparta Rotterdam.
A specific negotiation related to the Brazilian presidential election has already moved US$ 147 million, equivalent to approximately R$ 750.8 million. In the morning, President Luiz Inácio Lula da Silva appeared as the favorite in this platform negotiation, but around 6 PM the scenario reversed and candidate Flávio Bolsonaro took the lead in the bets.
Polymarket is one of the predictive markets platforms, which allow users to trade contracts linked to the occurrence of events. The article also mentions that Kalshi, a rival platform also in the predictive markets sector, is being sued by the state of New York for operating what is described as an "illegal gambling scheme." Kalshi is co-founded by a Brazilian and has expressed interest in entering the Brazilian market, promising dialogue with the government after the veto on predictive markets.
