B3 began negotiations on six new event contracts this Monday (27), derivative instruments that follow the same logic as predictive markets.
These contracts are linked to events with objective results and, in the case of new products, defined based on the behavior of market variables – Ibovespa, dollar and bitcoin.
Although they are similar to traditional options, “event contracts” are differentiated by their fixed payment, known earning potential at the beginning of the operation and limited risk for buyers and sellers, explained B3, a financial market infrastructure company.
Last Friday, the federal government announced the ban on predictive market platforms in Brazil, pointing out the illegality in the country of this type of operation offered by companies such as Kalshi and Polymarket.
In parallel, the CMN (National Monetary Council) published a resolution that prohibits the offering in the country of derivative contracts whose underlying assets are linked to sporting events, online games or political, electoral, cultural and social results.
The text only allows derivative contracts linked to predefined economic and financial indicators, such as price indices, interest rates and exchange rates.
According to B3, the new products were authorized by the CVM (Securities Commission) initially for exclusive trading by professional investors – with more than R$10 million allocated in financial assets or technical certification issued by the authority.
Its structure will follow rules common to derivatives already traded in the B3 regulated environment, including exclusively financial settlement, on-screen price formation, counterparty guarantee for settlement, among others.
“The launch of these new event contracts follows the evolution of predictive markets, with a simplified experience and preserving the security parameters that characterize B3’s operations,” said B3’s vice president of products and clients, Luiz Masagão, in a press release.
