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What the president does not acknowledge is that the government relies on revenue from the sector. In just the first seven months of 2026, BRL8.747 billion generated by sports betting has already flowed into public coffers. The Federal Revenue Service estimates the total could reach BRL16 billion by the end of the year. In 2025, nearly BRL9 billion was collected from sportsbooks.

The burning question is where such funds will come from if Lula shuts down the betting industry. Yet, no one points out to him that players will simply migrate to the illegal market. Betting will continue to exist, but without formal tax revenue, oversight or player protections.

It will be up to the government to effectively curb the illegal market so the regulated sector continues to generate taxes and jobs while upholding responsible gambling practices. By riding the wave of criticism against betting companies, the government is diverting attention from the true cause of household indebtedness.

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The proposed bill seeks to prevent student-athletes from trading on prediction markets, but does not set any explicit standards on player harassment.

Separately, the two senators wrote a formal letter to a bevy of pro sport leagues last October requesting additional details on the leagues’ interaction with integrity monitors on suspicious wagering.

Despite Tuesday’s memo, it is not immediately clear if any professional sports league commissioners are willing to testify before Congress on some of the most problematic aspects of sports betting.

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At the SPA, Macorin plays a leading role in the implementation, supervision and enforcement of Brazil’s regulatory framework for betting.

Since joining the Ministry of Finance in 2024, he has been directly involved in implementing Brazil’s betting regulatory framework. His work has focused particularly on monitoring authorised operators, combatting the illegal market and strengthening controls to prevent money laundering and the financing of terrorism, as well as coordinating enforcement actions with other government agencies and private sector stakeholders.

“Fabio’s appointment brings an important South American perspective to the IAGR board of trustees at a time when regulators worldwide are facing similar transnational challenges,” said IAGR President Ben Haden.