Lula's Betting Ban Takes Effect, Blocking Platforms
Business conditions in Brazil are deteriorating as Lula's betting ban impacts finance and tech sectors, and potential changes to labor laws could affect costs and productivity.
Online betting platforms in Brazil are now blocked following a measure signed by President Luiz Inácio Lula da Silva, according to Agência Brasil. The platforms, including apps and websites, became unavailable starting Tuesday, 6 October. The measure, MP 1.394/2026, prohibits the exploitation, offering, intermediation, and advertising of these activities in Brazil. Users had until Monday to withdraw funds, with R$ 1.33 billion still held on the platforms. Companies must report remaining balances to financial institutions by Wednesday.
Impact Betting companies must halt operations and report user balances, affecting finance and technology sectors.