Brazil President Lula Says Betting Industry Turns Addiction Into Profit in UN Speech.

^{Brazilian President Luiz Inácio Lula da Silva}

Brazilian President Luiz Inácio Lula da Silva raised concerns about online betting during his speech at the 81st UN General Assembly in New York, criticizing the rapid expansion of betting platforms. The Brazilian leader said the industry was contributing to social problems linked to addiction and rising household debt.

“The multi-billion-dollar betting industry turns addiction into profit. Its rapid spread is increasing debt levels and destroying families. Brazil will not tolerate this business model,” Lula said.

Brazilian President Luiz Inácio Lula da Silva speaking at the UN General Assembly

Lula raised the issue of betting as part of a broader discussion on digital technology and protecting users from potential risks online. He also said Brazil had introduced what he described as some of the world’s most advanced rules to protect children, teenagers and women in the digital environment.

The speech came as Brazil debates new restrictions on the gambling market. The government is considering a ban on online casino products offered through betting platforms, along with additional restrictions on betting advertising.

A full ban on sports betting is not currently on the table. Officials are instead discussing changes to how the market — which is already regulated and includes licensed operators — should operate.

Some football clubs and sports organizations have expressed concerns about possible stricter restrictions, as betting companies are major sponsors of Brazilian football.