[Online Gambling Banned Before Brazilian Election, $492 Million in License Fees Retained] Odaily Planet Daily News – On September 25, Brazil issued Provisional Measure No. 1394, immediately banning the operation, promotion, mediation, and advertising of fixed-odds sports betting and online casinos. Platforms serving Brazilian users from abroad are also included in the ban. The measure takes effect 9 days before the first round of the presidential election. New deposits are prohibited from the date of the measure's issuance, and users must withdraw their balances by 11:59 PM on October 5. Licensed websites and applications will be shut down at midnight on October 6. Unsettled bets will be voided and fully refunded, and operators are required to transfer balances to users' bank accounts within two days. The Brazilian government has issued licenses to 85 operators, with each license costing $5.8 million, totaling $492 million. The licenses will expire on October 25, and operators will not be entitled to refunds or compensation. A supporting bill proposes criminalizing gambling payments processed through virtual assets. (Bitcoin.com News)