Brazil leads debate on regulation of predictive markets in Latin America.

The Argentine State Lottery Association (Asociación de Loterías Estatales Argentinas – ALEA) will hold its International Workshop and 75th Ordinary Assembly in Mendoza, Argentina, from April 21 to 24, 2026. The event will take place at the Hotel Esplendor by the Wyndham Arena Maipú. The organization has the participation of the Government of Mendoza and the Provincial Institute of Games and Casinos (IPJYC – Instituto Provincial de Juegos y Casinos).

The workshop “Global Perspectives and Challenges of Legal Gaming” took place this Wednesday (22). The program addressed regulation, technology, artificial intelligence and the fight against illegal gambling. National and international leaders from the sector participated in the meeting.

The event promotes the exchange of experiences among professionals in the sector. The agenda includes discussions on international coordination to address global challenges in gaming and the fight against illegal activities. The workshop also covers products classified as "frontier," including sweepstakes and the tokenized economy.

The convergence between gaming (skill-based and video games) and gambling (betting) is integrated into the programming. The impact of artificial intelligence and social networks on new users was also discussed.

Hybrid models challenge traditional regulatory systems.

Fernando Garita participated in the panel “New regulatory challenges and predictive markets” held this Wednesday (22), representing the Brazilian Payment Institution MW Pay. The executive addressed the evolution of the market and the hybrid models that combine elements of gaming and finance, bringing to the debate the prominent position that Brazil occupies in the construction of regulatory frameworks for these emerging products in Latin America.

“The advancement of predictive markets and hybrid models between gaming and finance is generating a new regulatory discussion throughout Latin America, with Brazil assuming a prominent role in this process,” Garita stated.

The executive highlighted that the absence of a definitive classification for these products reflects a natural stage in the market's evolution. “Currently, these products still lack a definitive classification, which reflects more a natural stage in the market's evolution than a structural limitation. In the Brazilian case, the interaction between different bodies, such as the Secretariat of Prizes and Betting of the Ministry of Finance (SPA-MF) and the Securities and Exchange Commission (CVM), demonstrates an active environment of analysis and regulatory development,” he stated.

The discussion focused on building regulatory frameworks for products that do not yet have a definitive classification in Latin American legal systems.

Brazilian agencies evaluate the classification of new products.

In the United Kingdom, the Financial Conduct Authority works together with the Gambling Commission to participate in the evaluation process of hybrid models. The joint action of these institutions demonstrates the complexity of products that combine characteristics of different sectors.

“International experiences, such as that of the United Kingdom — where the Financial Conduct Authority works in conjunction with the Gambling Commission — reinforce the importance of complementary regulatory models to deal with the dual nature of these products,” comments Garita.

The lack of clarity regarding the classification of these models allows different regulatory bodies to assess the best ways to frame them. Possibilities include integration through the financial market, the betting sector, or a hybrid approach.

“There is a growing understanding that these models can find space within the formal system, whether through the financial market, the betting sector, or a hybrid approach. In this sense, Brazil is already demonstrating a pragmatic stance, seeking to balance innovation, legal certainty, and user protection,” said Garita.

International trends point towards the creation of new verticals, such as so-called event-based trading . These models combine elements of investment and entertainment.

Brazilian debate focuses on integration into the regulated market.

In Brazil, the discussion focuses mainly on the most appropriate way to integrate these models into the regulated market. "The international trend points towards the creation of new verticals, such as so-called event-based trading , which combine elements of investment and entertainment. In Brazil, the debate is not only focused on the viability of these models, but mainly on the most appropriate way to integrate them into the regulated market," stated the executive.

This approach differentiates the country from other jurisdictions that are still evaluating whether or not to allow such activities in their territories.

International experiences reinforce the importance of complementary regulatory models to address the dual nature of these products. In the United Kingdom, the Financial Conduct Authority works in conjunction with the Gambling Commission . “International experiences, such as that of the United Kingdom—where the Financial Conduct Authority works in conjunction with the Gambling Commission —reinforce the importance of complementary regulatory models to address the dual nature of these products,” stated Garita.

Brazil is positioned as one of the most structured markets to lead this discussion in the Latin American context. The strong participation of industry, associations, and regulators characterizes the Brazilian environment.

“In the Latin American context, Brazil is positioned as one of the most structured markets to lead this discussion, with strong participation from industry, associations, and regulators. More than just reacting to changes, the country is actively building pathways to incorporate these new dynamics in a sustainable and competitive way,” said the executive.

Workshop addresses sustainability and protection of vulnerable groups.

The workshop in Mendoza included discussions on regulation and the fight against illegal gambling. The agenda addressed global regulatory challenges and coordination between countries.

The program addressed innovation and new scenarios, with an emphasis on "frontier" products and tokenization. Participants discussed predictive markets as new regulatory challenges and the convergence between gaming and gambling.

The role of artificial intelligence, social media, and new audiences in the gaming industry was on the agenda. Sustainability, social responsibility, and the protection of vulnerable groups were also discussed.

The event included discussions on communication and marketing in legal gaming. ALEA consolidates the meeting as a space for reflection on the key aspects that mark the development of the gaming sector in the region.

About MW Pay

MW Pay operates as a Payment Institution with technology integrated into the SPI/DICT system, which enables transactions via Pix. The company's infrastructure processes over 80 million transactions daily. Its operational performance exceeds 1.000 transactions per second.

The platform operates with direct connectivity to the Pix ecosystem as a participant in the arrangement. The institution serves clients in tourism, hospitality, marketplaces , and regulated sports betting and online gaming operators. The organizational structure includes compliance , legal, commercial, support, development, and finance teams . The operation prioritizes security, traceability, and efficiency in payment processes.