Brazil's President Luiz Inácio Lula da Silva signed an executive order on September 26, 2026 banning fixed-odds online betting, calling the industry a "cancer" he must "remove." Users were given until October 5 to withdraw funds. The ban came weeks before the first round of the presidential election.
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Lula, who is currently in a tight presidential race against Flávio Bolsonaro, said the industry was a "cancer" that he must "remove".
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Brazil’s President Luiz Inácio Lula da Silva on Friday signed an order banning fixed-odds betting just over a week ahead of the first round of the presidential election, in a move he said was designed to tackle the pervasive problem of families falling into debt.
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