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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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Former US congressman George Santos has been permanently prohibited from trading on the prediction market Kalshi, the company announced late last week. 

Friday’s announcement followed an investigation that found he manipulated contract prices linked to his anticipated attendance at the 2026 State of the Union address.

He was also fined $71,356.

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Our tip: Tottenham Hotspur to win by 1 goal (5/2)

Chelsea vs. Manchester United (4.30pm GMT kick-off)

Our tip: Over 3.5 goals (23/10)