On September 17, 2024, the Plenary of the Superior Electoral Court reinforced the law that condemns the practice, considered an electoral offense in Brazil. Understand the case below.
Minister Carmen Lúcia during a session of the 1st group of the STF. Photo: Nelson Jr./SCO/STF (03/27/2012)
The world's largest cryptocurrency betting platform, Polymarket, has been receiving votes for mayor of São Paulo, with bettors trying to make a profit from the 2024 elections.
With the highest percentage indicating a possible victory for Ricardo Nunes (MDB), 65% of bettors are confident in this result. In second place, bettors on the platform believe that Pablo Marçal (21%) has some chance, although the reward for his victory is currently the highest on the platform.
Furthermore, Guilherme Boulos (PSOL) is in third place in the race on the betting platform, with a 16% chance of being elected. Although the Polymarket platform is not in Brazil, where betting on the outcome of elections is prohibited, it shows that Brazilians sought profits from the election abroad.
José Luiz Datena (PSDB), Tabata Amaral (PSB) and Marina Helena (NOVO) appear with less than 1% of bets, while the other candidates together also represent little chance of victory, according to bettors.
In total, 2,646,765.31 million Brazilian Reais have already been placed in the bet, or US$ 483,348.00, indicating that the São Paulo election attracts attention.
It is worth noting that this is the only electoral bet in Brazil available on Polymarket, according to a survey carried out by Livecoins, on September 20, 2024. After the TSE announces the winner of the dispute, whether in the first or second round of the elections in the capital of São Paulo, Polymarket will close the bet and give the money to the winners.
Polymarket receives cryptocurrency bets from people trying to predict the outcome of the 2024 São Paulo mayoral elections/Reproduction. Query conducted by Livecoins on 09/20/2024.
The São Paulo race is one of the most followed in Brazil today, with great repercussion in the media and competition between the participants. In recent days, for example, a chair attack by Datena on Marçal went viral on social media.
TSE has banned betting on Brazilian elections since 1965 and reinforced the measure in September 2024, understand everything about electoral crime
In the administrative session on Tuesday (17), the Plenary of the Superior Electoral Court (TSE) approved a resolution that clarifies the illegality of bets, including online, related to election results. The rule modifies articles 1 and 6 of TSE Resolution No. 23,735, of February 27, 2024.
The proposed amendment was made by the president of the TSE, Minister Cármen Lúcia, and approved unanimously. According to her, although there is no legal novelty, it was necessary to make the rules of the Electoral Code clearer to ensure their correct application in situations that have arisen recently.
Cármen Lúcia highlighted that, to ensure greater effectiveness in the ongoing electoral process, guaranteeing a safe, transparent and respectful election for voters, it was essential that judges and members of the Public Prosecutor's Office clearly understand the scope, interpretation and application of the current rules, especially article 334 of the Electoral Code.
The recurring practice of betting and lotteries involving predictions about the results of the 2024 Elections, including offers of financial or material advantages to voters, with the potential to interfere in the electoral process, especially through propaganda or solicitation, made it necessary to reinforce the rules already established on the subject since 1965.