Caixa postpones betting platform launch ordered by President Lula
The Brazilian state bank Caixa Econômica Federal halted the launch of its anticipated national sports betting platform, initially scheduled to debut before the end of 2025.
According to government sources, the decision was made by direct order of President Luiz Inácio Lula da Silva, following a growing political debate about the appropriateness of a public entity entering the online gambling business.
The platform — which aimed to begin full operations in 2026 — projected generating around R$2.5 billion (USD 440 million) in annual revenue, with the goal of competing with private betting houses and recovering part of the funds currently lost on unregulated offshore sites.
However, the project faced resistance in Congress, where opposition lawmakers criticized its launch and questioned the Executive’s priorities. In response, Lula reportedly requested Caixa to postpone the initiative indefinitely.
According to the Social Communication Secretariat of the Presidency, the bank must focus its efforts on programs more aligned with the government agenda, such as the R$40 billion housing renovation plan and a new credit line for motorcycle delivery drivers, developed jointly with the Ministry of Labor.
Caixa is also preparing to announce new sustainability projects, which will be presented during the United Nations Climate Change Conference (COP) this month.
Tensions around the project intensified at the end of October, when Lula was on a tour of Asia and the press reported opposition criticisms.
Back in Brazil, the president held a direct meeting with Caixa’s head, Carlos Vieira, to evaluate the plan’s continuation.
Despite the suspension, the bank’s management maintains its technical support for the proposal. Caixa executives argue that a state platform would allow tax collection and curb tax evasion generated by international operators acting without a license.
According to data from the bank itself, lottery revenues have fallen by 50% since the rise of online betting, which reduced public funds derived from this segment, as 48% of Caixa’s lottery proceeds are allocated to social programs.
The project had been under study since early 2024 and already had technical approval from the Ministry of Finance, although it had not yet received the Executive’s final political authorization.
For now, the platform’s launch is on hold while the government redefines the role Caixa should play in the digital economy and in the future structure of the regulated betting market in Brazil.
Tags: Brasil, Caixa, Bet Caixa, Caixa online betting