Brazilian authorities have moved to shut down 27 prediction market platforms, including Kalshi and Polymarket.The decision, announced Friday, follows a directive from the Ministry of Finance and enforcement by the National Telecommunications Agency (Anatel), according to state-owned news outlet Agência Brasil. Authorities claimed that such services fall outside Brazil’s current legal framework and therefore operate illegally.“We have been monitoring the evolution of this sector in Brazil, which suffered a period of anarchy because there were no rules, no oversight, from 2018 to 2022,” Finance Ministry executive secretary Dario Durigan reportedly said during a press conference at the Palácio do Planalto.The crackdown follows Resolution 5.298 issued by Brazil’s National Monetary Council (CMN) on Friday, which takes effect in early May and sharply limits what prediction market platforms can offer. Under the new rules, contracts tied to sports, politics, entertainment, or social events are banned, as authorities consider them closer to gambling than financial investments.Only contracts linked to economic indicators, such as inflation, interest rates, exchange rates, or commodity prices, will remain allowed and fall under financial market oversight.Related: Kalshi bans 3 US politicians for betting on their own election racesBrazil flags prediction platforms as debt riskDurigan claimed that prediction markets could deepen household debt and expose users to financial harm. “At a time when we are working to reduce debt levels among families, small businesses, and students, we must also prevent new forms of harmful indebtedness,” he said.The blocked platforms include a mix of international and Brazil-focused services, with major names including Kalshi, Polymarket, PredictIt, Robinhood (via its forecasting feature) and Fanatics Markets.Banned prediction markets in Brazil. Source: Agência BrasilBanned prediction markets in Brazil. Source: Agência BrasilOther affected platforms include ProphetX, Hedgehog Markets, Novig, Polyswipe, PRED Exchange and Stride, alongside several Brazil-focused services such as Palpita, Cravei, Previsao, and MercadoPred.Related: Prediction market battle gets closer to Supreme CourtMore countries ban prediction marketsA growing number of jurisdictions have moved to ban prediction markets, often folding them into gambling or financial regulations. Several European nations, including France, Belgium and the Netherlands, have blocked or penalized platforms operating without authorization.In the United States, the situation is more fragmented, with an ongoing tug-of-war between federal regulators and individual states over prediction markets.Magazine: How to fix suspected insider trading on Polymarket and KalshiCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

US spot Bitcoin exchange-traded funds (ETFs) have extended their inflow momentum through late April, notching a nine-day streak amid growing investor conviction.During the period, which spanned April 14 and April 24, total net inflows reached roughly $2.12 billion, with the strongest single-day performance on April 17, when funds attracted $663.91 million. April 14 and April 22 also posted robust gains of $411.50 million and $335.82 million, respectively.The weakest day came on Friday, with a more modest $14.45 million in net inflows. BlackRock’s IBIT led the day with $22.88 million in inflows. In contrast, Fidelity’s FBTC recorded outflows of $1.69 million, while Bitwise’s BITB and ARK 21Shares’ ARKB saw withdrawals of $8.85 million and $9.02 million, respectively. Other funds, including Grayscale’s GBTC and smaller products, reported largely flat flows.The April streak is the first nine-day run for spot Bitcoin (BTC) ETFs since a similar run in October, when inflows surged, including $1.21 billion on Oct. 6 and $875.6 million on Oct. 7.Spot Bitcoin ETFs see 9-day inflow streak. Source: SoSoValueSpot Bitcoin ETFs see 9-day inflow streak. Source: SoSoValueThe sustained inflows also come alongside a strengthening Bitcoin market, with BTC currently trading at $77,516.55, up 10.73% over the past month, according to data from CoinMarketCap.Related: Bitcoin ETFs Surpass March Inflow Streak With $1.9BBitcoin ETF investors hold firmThe recent steady stream of capital has pushed flows back into positive territory for 2026, with cumulative total net inflows reaching $58.23 billion.This trend comes even as Bitcoin remains about 35% below its record high reached in early October, ETF analyst Nate Geraci wrote in a recent post on X. He said this pattern suggests that ETF investors are taking a longer-term approach rather than reacting to short-term volatility. The continued inflows during a market drawdown point to a more resilient investor base, often described as “diamond hands” in crypto circles.“ETF investors proving to be longer-term allocators,” he wrote.Related: Spot Bitcoin ETFs Gain $411M as Goldman Files ETF PlanEther ETFs see strong inflowsUS spot Ether (ETH) ETFs also maintained a strong inflow streak from April 14 through April 22, posting nine consecutive days of net positive flows. However, the streak was broken on April 23, when funds recorded net outflows of $75.94 million.During the nine-day run from April 14 to April 22, total inflows were consistently solid, with the strongest single-day performance on April 17, when Ether ETFs attracted $127.49 million. Other standout sessions included April 22 with $96.44 million and April 20 with $67.77 million.Magazine: AI-driven hacks could kill DeFi — unless projects act nowCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.