This market will resolve according to the change in the target for the Selic rate as a result of the monetary policy decision of the Bank of Brazil's June 2026 meeting versus the level it was prior to this meeting.

The resolution source for this market is information released by the Bank of Brazil after its June 2026 policy meeting, currently scheduled for June 15-16, as listed on the official Bank of Brazil calendar: https://www.bcb.gov.br/en/about/bcb-calendar

This market may resolve as soon as the Bank of Brazil's statement for their June meeting with relevant data is issued. If no statement is released by the end date of the meeting, this market will resolve to the "No change" bracket.

Decrease

No Change

Increase

Bank of Brazil decision

Bank of Brazil Decision in June?

This market will resolve to "Yes" if Neymar da Silva Santos Júnior takes the field as a player in at least one official match for Brazil during the 2026 FIFA World Cup at the group stage or later. Otherwise, this market will resolve to "No".

Any on-field appearance as a player will qualify, in regulation, stoppage time, extra time, for a shootout, etc.

The primary resolution source for this market will be information from FIFA (https://www.fifa.com/), however a consensus of credible reporting will also be used.

Will Neymar play in the World Cup?

The Rio Grande do Sul gubernatorial election is scheduled to take place in Brazil on October 4, 2026, with a runoff on October 25, 2026, if no candidate receives a majority of the valid votes in the first round.

This market will resolve according to the candidate who wins this election.

Temporary, interim, or placeholder governors appointed by any means before the specified election will not be considered.

If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

Luciano Zucco

Juliana Brizola

Gabriel Souza

Rio Grande do Sul Governor Election Winner

This market will resolve to “Yes” if President Luiz Inácio Lula da Silva (Lula) nominates an individual for Minister (Ministro) of the Supreme Federal Court of Brazil (Supremo Tribunal Federal) by the listed date, 11:59 PM Brasilia time. Otherwise, this market will resolve to "No".

An announcement from Lula or the Office of the Presidency of the Republic of Brazil (Presidência da República) stating that Lula has nominated an individual for Minister of the Supreme Federal Court will suffice to resolve this market, regardless of whether a formal nomination actually occurred.

Qualifying announcements must explicitly present the relevant individual as the nominee for Minister of the Supreme Federal Court. Announcements of acting or interim appointments, announcements of intention to nominate an individual in the future, or announcements which merely reveal potential candidates will not qualify. Media reports, speculation, or other unofficial information will not qualify.

A formal presidential nomination of an individual to be Minister of the Supreme Federal Court will also suffice to resolve this market. Formal nominations are defined as the submission of a nomination message to the President of the Federal Senate (presidente do Senado Federal).

The primary resolution source for this market will be official information from the Presidency of the Republic of Brazil (https://www.gov.br/planalto), however a consensus of credible reporting may also be used.

December 31

September 30

June 30

Will Lula announce nomination of a Supreme Court minister by...?

The Minas Gerais gubernatorial election is scheduled to take place in Brazil on October 4, 2026, with a runoff on October 25, 2026, if no candidate receives a majority of the valid votes in the first round.

This market will resolve according to the candidate who wins this election.

Temporary, interim, or placeholder governors appointed by any means before the specified election will not be considered.

If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

Cleitinho Azevedo

Alexandre Kalil

Rodrigo Pacheco

Minas Gerais Governor Election Winner

The Ceará gubernatorial election is scheduled to take place in Brazil on October 4, 2026, with a runoff on October 25, 2026, if no candidate receives a majority of the valid votes in the first round.

This market will resolve according to the candidate who wins this election.

Temporary, interim, or placeholder governors appointed by any means before the specified election will not be considered.

If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

Ciro Gomes

Elmano de Freitas

Eduardo Girão

Ceará Governor Election Winner

General elections are scheduled to take place in Brazil on October 4, 2026. If no candidate wins outright in the first round, the top two candidates proceed to a runoff.

This market will resolve to "Yes" if the listed candidate advances to Brazil's presidential runoff election or otherwise wins outright in the first round. Otherwise, this market will resolve to "No".

If the president is decided in the first round of the election but the listed candidate is not the winner or the result of this election isn't known definitively by June 30, 2027, 11:59 PM ET, the market will resolve to "No".

This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., https://dadosabertos.tse.jus.br/).

Luiz Inácio Lula da Silva

Flavio Bolsonaro

Fernando Haddad

Which candidates will advance to Brazil's presidential runoff?

The São Paulo gubernatorial election is scheduled to take place in Brazil on October 4, 2026, with a runoff on October 25, 2026, if no candidate receives a majority of the valid votes in the first round.

This market will resolve according to the candidate who wins this election.

Temporary, interim, or placeholder governors appointed by any means before the specified election will not be considered.

If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

Tarcísio de Freitas

Kim Kataguiri

São Paulo Governor Election Winner

This market will resolve according to the change in basis points in the target for the Selic rate resulting from the August 2026 meeting of the Bank of Brazil’s Monetary Policy Committee (COPOM), relative to the level it was prior to this meeting.

The resolution source will be official information from the Bank of Brazil, including the statement or release from its August 2026 Monetary Policy Committee meeting, scheduled for August 3-4, 2026, as listed on the official Bank of Brazil calendar (https://www.bcb.gov.br/en/about/bcb-calendar?categoria=Monetary%20Policy%20Committee%20(Copom)). This market may resolve as soon as the statement or release of the the Bank of Brazil's August 2026 Monetary Policy Committee meeting with relevant data is issued. 

If the specified rate is defined by an upper and lower bound, the relevant change will be the change to the upper bound. 

If the specified rate is changed to a level not expressed in the displayed options, the change will be rounded according to the following guidelines. Increases or decreases of less than 25 bps will be rounded to 25 bps (e.g. an increase or decrease of 10 bps would be considered to be an increase or decrease of 25 bps). Increases or decreases of greater than 25 bps will be rounded to the nearest 25 bps and will be rounded away from 0 in cases of equidistance (e.g., an increase or decrease of 37.5 bps would be considered to be an increase or decrease of 50 bps). Displayed options of “Increase” or “Decrease” will include policy rate increases or decreases of any size.

If the specified meeting is postponed to a date and time before the start of the next scheduled meeting, this market will resolve based on the outcome of that postponed meeting.  If the specified meeting is cancelled, or postponed such that no decision is announced by the start of the next scheduled meeting, this market will resolve to the “No Change” bracket. Emergency changes to the specified rate not resulting from the specified meeting will not be considered.

25 bps decrease

50+ bps decrease

Bank of Brazil decision in August?

The Bahia gubernatorial election is scheduled to take place in Brazil on October 4, 2026, with a runoff on October 25, 2026, if no candidate receives a majority of the valid votes in the first round.

This market will resolve according to the candidate who wins this election.

Temporary, interim, or placeholder governors appointed by any means before the specified election will not be considered.

If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

Jerônimo Rodrigues

ACM Neto

José Carlos Aleluia

Bahia Governor Election Winner

The next federal Senate election is scheduled to take place in Brazil on October 4, 2026, in which two-thirds of the Senate’s 81 seats will be contested.

This market will resolve according to the political party that wins the greatest number of seats in the next Brazilian Senate election. 

Only seats contested in the next Brazilian Senate election will be considered.

In the event of a tie between multiple parties for the most seats won, this market will resolve in favor of the party whose listed abbreviation appears first in alphabetical order.

This market's resolution will be based solely on the number of seats won by the named party in the Brazilian Senate, not by any federation or coalition it may be a part of.

If the result of this election isn't known definitively by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

The next federal Senate election is scheduled to take place in Brazil on October 4, 2026, in which two-thirds of the Senate’s 81 seats will be contested.

This market will resolve according to the political party that wins the greatest number of seats in the next Brazilian Senate election. 

Only seats contested in the next Brazilian Senate election will be considered.

If the result of this election isn't known definitively by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes).

UNIÃO

Next Brazil Senate Election: Most Seats Won

Presidential elections are scheduled to be held in Brazil on October 4, 2026. A second round will be held if no candidate secures more than 50% of the valid votes in the first round.

This market will resolve to "Yes" if any candidate wins this election in the first round. Otherwise, this market will resolve to "No".

If the result of the first round of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "No".

This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., https://dadosabertos.tse.jus.br/).

Will any presidential candidate win outright in the first round of the Brazil election?

This market will resolve to “Yes” if any justice of the Brazil Supreme Federal Court (STF) is permanently removed from the court as a result of impeachment or a trial for a crime of responsibility by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

Justices leaving the court due to term limits, voluntary resignation, or any other reason not resulting from impeachment or a trial for a crime of responsibility will not count.

Impeachments, trials for crimes of responsibility, suspensions, or other procedural measures will not alone suffice to resolve this market if they do not result in the permanent removal of a justice from the Brazil Supreme Federal Court.

The primary resolution source for this market will be official information from the government of Brazil; however, a consensus of credible reporting may also be used.

Any Brazil STF Justice removed by impeachment before 2027?

The next federal Chamber of Deputies election is scheduled to take place in Brazil on October 4, 2026.

This market will resolve according to the political party or electoral federation that holds the greatest number of seats in the next Brazilian Chamber of Deputies (Câmara dos Deputados) as a result of the next Brazilian Chamber of Deputies election.

In the event of a tie between multiple entities for the most seats held, this market will resolve in favor of the entity whose listed abbreviation appears first in alphabetical order.

This market's resolution will be based solely on the number of seats held by the named party or electoral federation in the Brazilian Chamber of Deputies as a result of the next Brazilian Chamber of Deputies election, not by any coalition it may be a part of.

If the result of this election isn't known definitively by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes) or the Brazilian Chamber of Deputies (https://www.camara.leg.br/).

FE Brasil

Brazil Chamber of Deputies Election Winner

This market will resolve to “Yes” if Alexandre de Moraes ceases to be a Justice of Brazil’s Supreme Federal Court for any period of time between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

An announcement of Alexandre de Moraes's resignation/removal before this market's end date will immediately resolve this market to "Yes", regardless of when the announced resignation/removal goes into effect.

The resolution source for this market will be official information from Alexandre de Moraes and the government of Brazil; however, a consensus of credible reporting may also be used.


Alexandre de Moraes out as Brazil Supreme Court Justice?

The next federal Senate election is scheduled to take place in Brazil on October 4, 2026, in which two-thirds of the Senate’s 81 seats will be contested.

This market will resolve according to the political party that holds the greatest number of seats in the next Brazilian Senate as a result of the next Brazilian Senate election. 

All seats, not only the ones contested in the next Brazilian Senate election, will be considered.

In the event of a tie between multiple parties for the most seats held, this market will resolve in favor of the party whose listed abbreviation appears first in alphabetical order.

This market's resolution will be based solely on the number of seats held by the named party in the Brazilian Senate as a result of the next Brazilian Senate election, not by any federation or coalition it may be a part of.

If the result of this election isn't known definitively by June 30, 2027, 11:59 PM ET, the market will resolve to "Other".

This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., www.tse.jus.br/eleicoes/resultados-eleicoes) or the Brazilian Senate (https://www25.senado.leg.br/web/senadores/em-exercicio/-/e/por-partido).

Next Brazil Senate Election: Most Seats Held

This market will resolve to "Yes" if the U.S. government formally designates Primeiro Comando da Capital (PCC) or Comando Vermelho (CV) as a Foreign Terrorist Organization (FTO) by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

This includes designation as a Foreign Terrorist Organization and/or as a Specially Designated Global Terrorist (SDGT), as well as executive action by the President, legislation signed into law, or the creation of a new federal designation that formally designates Primeiro Comando da Capital (PCC) or Comando Vermelho (CV) as a terrorist organization.

Statements by government officials, including the President, DHS, or FBI, will not count unless accompanied by a formal designation.

The resolution source will be a consensus of credible reporting.

Will Trump designate Brazil's PCC or CV as a terrorists by December 31?

This is a market about the variation of consumer prices in Brazil over the 12-month period ending December 2026, as reported by the Brazilian Institute of Geography and Statistics (IBGE).

This market will resolve according to the percentage change in the Extended National Consumer Price Index (IPCA) during the 12-month period ending December 2026 according to the monthly IBGE report.

The resolution source for this market will be the IBGE Extended National Consumer Price Index monthly report released for December 2026, currently scheduled to be released on January 12, 2027. Resolution of this market will take place upon release of the aforementioned data. If no data for the specified month is released by the date the next month's data is scheduled to be released, this market will resolve based on data from the last available month.

You can find the relevant figure by locating the report for December 2026 on the Press Releases page (https://agenciadenoticias.ibge.gov.br/en/agencia-press-room.html), locating the Period-Rate table and finding the IPCA growth rate figure in the column labeled "Rate" and the Row labeled “Cumulative in the year / 12 Months”. Changes in the IBGE’s reporting format will not disqualify a published relevant figure from counting.

Note: the resolution source for this market will be the official monthly IBGE IPCA news release which reports inflation during 12-month periods to two decimal points (e.g. 4.26%). Thus, this is the level of precision that will be used when resolving the market. For the full release schedule, see: https://www.ibge.gov.br/en/calendar.html

5.00-5.49%

6.00-6.49%

6.50-6.99%

Brazil Annual Inflation 2026

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