The Copa do Brasil is an annual knockout football competition organized by the Brazilian Football Confederation (CBF). It features 92 teams from across Brazil's state leagues and the national league system, with the champion earning a spot in the Copa Libertadores group stage. The tournament structure involves seven rounds, all played as two-legged ties except for the final, which is also a two-legged affair. The 2026 edition will be the 38th edition of the competition, which began in 1989. The tournament is known for its unpredictability, with lower-division clubs often defeating top-tier sides, making it one of the most competitive domestic cup competitions in South America. The champion is determined over two legs in the final, with aggregate score, away goals, and extra time rules applying. The 2026 champion will be the first to be crowned under any potential format changes or scheduling adjustments that the CBF may implement for that season. The market resolves to Yes if a specific club, designated as X, wins the 2026 Copa do Brasil. As of early 2026, the tournament is in its early stages, with state championships determining many of the participants. The competition has historically been dominated by clubs from the states of São Paulo, Rio de Janeiro, Minas Gerais, and Rio Grande do Sul, but recent winners include clubs from other regions like Cuiabá (Mato Grosso) and Fortaleza (Ceará). The 2026 edition will feature clubs from all 26 Brazilian states plus the Federal District, reflecting the country's vast football landscape.

Historical Context

The Copa do Brasil was created in 1989 as a national knockout tournament to determine Brazil's representative in the Copa Libertadores, alongside the Campeonato Brasileiro Série A. The first champion was Grêmio, who defeated Flamengo in the final. The tournament initially featured 32 teams but expanded to 64 in 2001, then to 92 in 2013. The format has evolved over time, with the current structure including teams from all state championships and the national league system. The competition has seen a variety of winners, from traditional powerhouses like Grêmio (5 titles), Palmeiras (4), and Flamengo (4), to smaller clubs like Criciúma (1991) and Paulista (2005). The 2000s saw a period of dominance by clubs from São Paulo and Rio, but the 2010s brought more diversity, with clubs like Atlético Mineiro (2014, 2021) and Cruzeiro (2017, 2018) winning multiple titles. The tournament has also been known for giant-killing acts, such as when lower-division club Santo André won in 2004, defeating Flamengo in the final. The 2020s have seen continued competitiveness, with Flamengo winning three titles (2020, 2022, 2024) and São Paulo ending a long drought in 2023. The 2025 edition will be completed before the 2026 tournament begins, with the champion earning a spot in the 2027 Copa Libertadores. The 2026 edition will be the first to be played under the CBF's new calendar, which was revised in 2024 to accommodate the expanded FIFA Club World Cup. Prize money has increased significantly, with the 2024 champion earning approximately R$ 70 million (about $14 million), up from R$ 50 million in 2020. The tournament's total prize pool for 2024 was over R$ 500 million, making it one of the richest domestic cup competitions in the world.

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