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Brazil's SPA and Caixa agree to block FIES debt renegotiators from betting

Regulation

Brazil's Secretariat of Prizes and Betting and Caixa Econômica Federal signed a 12-month agreement to share tax identification numbers for people renegotiating FIES student-loan debt, so operators can block their betting accounts. Existing account holders must be notified, can withdraw funds within two days, and may request reactivation after settling their debt.

Operators must prevent affected borrowers from opening or maintaining betting accounts and handle existing balances and wagers.

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Regulation

Brazil’s betting ban leaves operators’ future subject to court and Congress

Brazil’s fixed-odds betting ban remains in force as legal challenges proceed before the Supreme Federal Court and the measure awaits congressional consideration, according to the report. Existing operator authorisations expired on 25 October after the 30-day transition period; a suspension or lapse of the measure would not necessarily restore them automatically.

Brazil's fixed-odds betting ban remains in force while the Supreme Federal Court and Congress consider its validity, after President Luiz Inácio Lula da Silva's re-election added uncertainty to the sector's future, according to the report. Lula defeated Flávio Bolsonaro with 51.8% of the vote against just over 48%, according to official results. The victory strengthens Lula politically but does not by itself resolve the legal battle or make the prohibition a permanent rule.

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