Brazilian President Luiz Inácio Lula da Silva ordered Caixa Econômica Federal to suspend its planned sports betting platform, according to the report. Caixa president Carlos Vieira had said the project could generate up to R$2.5bn in annual revenue, and the report said the Ministry of Finance had authorised it to operate.
The suspension puts the state bank’s planned entry into sports betting on hold despite reported operating authorisation.
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Brazil’s CONAR ordered the preventive suspension of three sports betting adverts shown during 2026 World Cup broadcasts on CazéTV, which LiveMode operates. The campaigns by Betnacional, bet365 and KTO are under review over whether their presentation of odds could mislead viewers about the chance of winning; the companies have five days to say how they will adapt the adverts.
Brazilian President Luiz Inácio Lula da Silva ordered state-owned Caixa Econômica Federal to suspend plans for its own betting operation, according to people familiar with the matter. The project could be cancelled, although Caixa representatives said no final decision had been made and were working to advance it. Caixa paid R$30 million for a provisional authorisation to operate online betting and other games.
Brazilian President Luiz Inácio Lula da Silva ordered a halt to fixed-odds betting through a provisional measure, with authorised operators’ sites and apps due to cease activity on 6 October. Players can request withdrawals until 5 October; operators must consolidate identified customer balances on 7 and 8 October and return remaining funds through banks and financial intermediaries between 9 and 14 October. The measure excludes compensation for lost profits and investments, according to the report.
Brazilian President Luiz Inácio Lula da Silva requested a meeting with Caixa Econômica Federal president Carlos Vieira to discuss the bank’s planned sports betting platform. A lawyer cited in the report said Caixa Loterias received authorisation from the Ministry of Finance’s Secretariat of Prizes and Betting on 30 July; the year is not specified.
President Luiz Inácio Lula da Silva signed Provisional Measure 1,394 on 25 September, prohibiting online sports betting in Brazil, according to a media report. The report says the measure reverses the framework introduced in 2023 and leaves licensed operators without a legal basis to operate, with no reimbursement provision for their investments. It cites consultancy LCA figures showing online bets generated up to R$97bn in 2025, of which illegal operators accounted for R$43bn.