Brazil's Lula bans online betting ahead of presidential election

Key Points:

• President Luiz Inácio Lula da Silva signed an executive order banning online betting in Brazil, effective immediately but requiring congressional approval within 120 days to remain in force.
• The ban reverses Brazil's regulated online betting market established between 2018 and 2025, citing concerns over gambling-related harm costing the public health system approximately $7.7 billion annually.
• Betting websites and apps must cease operations by October 6, with procedures in place for returning bettors' remaining balances through banks and the state-owned Caixa Econômica Federal.
• Industry groups have condemned the ban and are preparing legal challenges, seeking compensation for licensing fees and investments, while experts suggest legal disputes will focus on refunds and compensation issues.
• The government also banned new betting advertisements and announced plans to criminalize online betting operations, with penalties of up to six years in prison, pending congressional approval.