Brazil Regulates Prediction Markets and Emerges as Mining Hub

Brazilian authorities have introduced strict regulations on non-financial prediction markets, effectively banning them from operating within the country. Resolution No. 5,298, issued by the National Monetary Council of Brazil on April 24, prohibits derivative contracts related to real and virtual events, as well as economic and financial benchmarks.

However, the growth of Brazil's energy market presents a significant opportunity for bitcoin mining. According to a report by Hashrate Index, titled 'The State of Bitcoin Mining in Latin America (2026)', the country has seen a 133% year-over-year increase in its share of global bitcoin hashrate.

This development could potentially turn Latam into a major player in the global bitcoin mining market. The region currently accounts for around 4.3% of the world's total bitcoin hashrate, with Paraguay holding the fourth spot at 43 EH/s. Venezuela also shows untapped potential, with 5 EH/s under current conditions.

Itau Ventures, the investment arm of one of Brazil's largest banks, has taken notice of this trend and has invested $10 million in Minter, a company that aims to tackle energy waste through mobile Bitcoin mining. This move positions Minter as an alternative for energy producers seeking to leverage wasted or unused energy.