Kalshi Expands Internationally with XP Partnership to Launch First Prediction Market Products in Brazil

Kalshi, the US-based event prediction market platform, is making its first international expansion through a strategic partnership with Brazilian financial services firm XP Inc. This collaboration marks the debut of regulated prediction market products in Brazil, bringing a new investment tool to Latin America.

Under the partnership, XP will handle local distribution, client engagement, and regulatory compliance within Brazil, while Kalshi will provide the core trading technology, market structure, and risk management for the event contracts. Initially, the contracts will be accessible to US investors as well as a select group of XP clients holding international accounts, with listings conducted through XP’s US brokerage arm to ensure adherence to existing regulatory frameworks.

Luana Lopes Lara, Kalshi’s co-founder, described the partnership as a strategic milestone in the company’s international growth. She stated, “It makes sense for us to go through these international partners. They already have the customers and the brand.”

Lucas Rabechini, head of financial products at XP, highlighted that the payoff structures of the event contracts are similar to derivative products familiar to many of their clients. Brazil’s large pool of active retail investors and strong appetite for macro-driven trading make the country an attractive market for Kalshi’s expansion.

The move comes as Brazilian regulators and financial institutions start exploring the role of prediction markets within the nation’s capital markets. The Comissão de Valores Mobiliários (CVM) recently authorized the exchange operator B3 to develop prediction markets structured as derivatives, reflecting the regulatory approach Kalshi follows in the US under CFTC oversight.