The reaction of potassium bromide (KBr) with chlorine (Cl₂) is a single displacement reaction and the name of the reaction is halogen displacement.

Here's the balanced chemical equation:

2KBr + Cl₂ → 2KCl + Br₂

In this reaction:

* Chlorine (Cl₂) is a more reactive halogen than bromine (Br₂).

* Chlorine displaces bromine from potassium bromide.

* Potassium chloride (KCl) and bromine (Br₂) are formed as products.