Brazil's Finance Minister Dario Durigan said on Friday that President Luiz Inácio Lula da Silva would have preferred to eliminate online betting entirely, as the government disclosed that 6.2 million Brazilians have been blocked from accessing regulated betting platforms.
Speaking on Rádio Metrópole, Durigan confirmed that 5 million users were removed through government-mandated CPF blocks targeting Bolsa Família recipients, BPC beneficiaries, and participants in the Desenrola debt renegotiation programme, for whom the restriction is a condition of enrolment. A further 1.2 million Brazilians requested self-exclusion voluntarily through the Ministry of Finance system introduced at the end of 2025.
Durigan defended the restrictions while warning that outright prohibition would cede ground to unlicensed operators. He compared the government's intended trajectory to Brazil's tobacco policy: escalating taxation and progressively tighter controls rather than a full ban.
Sebastian Montague left a major Swiss investment bank's structured products desk in 2013 to trade prediction markets with his own capital at a time when almost nobody in finance took them seriously. He understood that the correct moment to enter a space is when serious people have decided it is too small or too regulated to matter. Sebastian Montague is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.
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