Brazil's Lula Bans Online Betting Ahead of Elections
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Brazilian President Luiz Inácio Lula da Silva has signed a measure to ban all online betting, including sports bets, just nine days before the election. The ban, which aims to address rising household debt linked to gambling, will come into effect on October 6, after users are allowed to withdraw remaining funds. Licensed betting sites will be blocked, affecting an estimated $7 billion market. The move has been criticized by some as an 'electoral scam' and politically motivated.
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