Brazil’s Finance Ministry appoints head of betting regulatory body

(AsiaGameHub) –   Following earlier media speculation, Daniele Cardoso has been officially appointed as the new Secretary of Brazil’s betting regulatory body, the Secretariat of Prizes and Bets (SPA).

While no official announcement has appeared on the website of the SPA, which operates under the Brazilian Ministry of Finance, the confirmation came from Dario Durigan, the Minister of Finance, via X.

Yesterday, Durigan posted on the social media platform, affirming that Cardoso would lead the SPA under his supervision. Her appointment occurs at a pivotal juncture for both the Brazilian betting industry and its regulatory framework.

I am pleased to share news about the Ministry of Finance team. Rogério Ceron will be the new executive secretary. I trust in his ability to deliver, and I highlight that his work at the Treasury was fundamental for us to advance our agenda in recent years.

— Dario Durigan (@DarioDurigan) March 23, 2026

Previously, Regis Dudana served as Secretary of the SPA from April 2024, where he oversaw the introduction of the regulated betting market, locally referred to as ‘Bets,’ in January 2025. He was subsequently promoted to Secretary of Economic Reforms in January of the current year.

This month, a significant reshuffle within the Ministry led to Fernando Haddad, the Minister of Finance, stepping down from his position to pursue the governorship of Sao Paulo state. This move is a crucial goal for Brazil’s governing Workers Party (PT), led by President Lula da Silva.

Durigan was then promoted to Minister of Finance earlier this month, succeeding Haddad. He has now definitively confirmed Cardoso’s appointment to lead the regulatory efforts for Brazil’s nascent betting industry.

Cardoso assumes this leadership position amidst an intense political discourse surrounding betting in Brazil, as numerous policymakers, including President Lula, adopt an increasingly adversarial stance towards the sector.

President Lula, who initially approved the launch of the Bets market on January 1, 2025, in late December 2024, has since grown considerably more critical of the regulated industry and its broader societal effects.

Furthermore, he has actively pursued increased tax revenues from the sector, ultimately achieving his objective with the approval of a tax rate hike on gross gaming revenue (GGR) from 12% to 18% by 2027.

Concurrently, the domestic industry remains engaged in an arduous struggle against Brazil’s persistent grey and black markets. The sector now confronts impending taxes, political examination concerning aspects such as marketing, and the evolving landscape of prediction markets.

Kalshi, recognized as one of the two largest global prediction platforms alongside Polymarket, recently established operations in Brazil. Nevertheless, it remains uncertain which regulatory body—either the SPA or the Brazilian Securities and Exchange Commission—will oversee these platforms.