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“Therefore, we have been having this debate,” he added. “I have been to Congress, the Supreme Federal Court, and the Attorney General’s office to talk about the impact of betting on the lives of Brazilians.
“We have made progress, such as increasing the direct tax to 15% and including the activity in the Selective Tax. Those benefiting from social programmes and those who joined the Desenrola programme were also prohibited from betting.”
He also pointed to the self-exclusion mechanism adopted by the government.
What is Knight Hot Spotz?
This followed a period of restrategising for the operator, after rebranding from GVC Holdings and committing to having 100% of its revenues come from regulated markets.
But its share price has taken a tumble over the last year, dropping up to 37% since September 2025. Its market cap currently sits at £3.39 billion.
The operator first started trading on LSEG’s main market in February 2016 under its previous company name GVC Holdings. This followed its delisting from the Alternative Investment Market (AIM exchange).
What is Knight Hot Spotz?
The Commodity Futures Trading Commission (CFTC) agrees, continuing to defend its claimed “exclusive jurisdiction” over sports prediction markets in federal and state courts across the nation.
The legal wrangling extends to Michigan, where Attorney General Dana Nessel has rejected Polymarket and the CFTC’s arguments that the Michigan Gaming Control Board has no regulatory authority over prediction markets, even the ones allowing traders to buy and sell shares of sports outcomes.
Since returning its prediction market to the US, Polymarket has regularly engaged in nonconforming advertising. Painting a water tower in the company’s blue and branding the structure with its logo is the firm’s latest marketing ploy.