Caixa Econômica Federal has confirmed that it has suspended its plans to launch an online gambling platform under Brazil’s Bets Law.
At the close of last week, Caixa announced its decision to abandon the rollout of its online betting brand in 2026, opting instead to “monitor forthcoming developments related to federal online gambling laws”.
As a result, Caixa will freeze its BRL 30m (€6m) licence payment made to the Secretariat of Prizes and Bets (SPA) of the Ministry of Finance,, which oversees the regulation of fixed-odds betting in Brazil.
According to SBC Noticias Brazil, the state-backed lender had come under scrutiny from the Federal Court of Accounts (TCU) and has been ordered to disclose its plans to launch an online gambling platform and fulfil its duties to disclose how it plans to spend state funds.
Since 1962, Caixa has served as the exclusive operator of Brazil’s lottery system, following an executive decree issued under President João Goulart.
Through its Caixa Loterias subsidiary, the bank operates the country’s flagship lottery products, including Mega-Sena, Lotofácil, Quina and Lotomania, while also overseeing infrastructure and tenders for state lottery franchises.
Caixa has suspended its plans amid political conflicts on the future of the Bets Law.
Bets in limbo
Last week, the congressional caucus of the Workers’ Party submitted Bill PL 1808/2026, which proposes that the Bets framework be completely terminated, with a nationwide prohibition of online gambling across Brazil – with the exception of state-controlled lottery products.
With only 16 months since Brazil ratified its online gambling legislation, this would be quite the u-turn for the country – which has previously been pitted as one of the biggest gambling markets in the world.
The bill has been backed by 68 PT members, though it has not received formal endorsement from President Luiz Inácio Lula da Silva nor senior government ranks, leaving its political weight open to interpretation.
Further uncertainty was added on Friday, as O Globo reported that Lula is preparing a presidential decree to override elements of the current betting regime.
The proposed measures are expected to focus on restricting gambling participation among financially vulnerable groups, prioritising the protection of the Bolsa Familia programme. Furthermore, Lula is expected to present his own mandate to impose sweeping curbs on advertising and promotional inducements.
The developments have placed Caixa in a politically sensitive position. In 2025, the federal bank was granted rights to enter the Bets market, a move that drew criticism from political ranks over the optics of a state-owned institution promoting online gambling under the Caixa Loterias brand.
Through Caixa Loterias, the operator is required to allocate around 40% of lottery revenues to public funding, supporting education, health, sports and social security programmes, making it one of Brazil’s most significant sources of social investment.
In response to the current uncertainty, Caixa reiterated that it is closely monitoring regulatory developments.
In a statement, it said: “Caixa informs that it constantly analyses, in a responsible manner and aligned with the regulatory environment, opportunities to operate in the fixed-odds betting market. To date, no contracts have been signed for the operation of the platform, nor is there any obligation to pay fines related to the matter.”
The bank added that its strategic decisions have been guided by “technical, legal and sustainability criteria, and remain aligned with the directives of the federal government”.
