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Evolution ceo hits out at brazil betting ban

Evolution boss Martin Carlesund slams Brazil over a sudden online gambling shutdown.

Written by the BettingEdgeHub desk, 27 October 2026

Evolution chief executive Martin Carlesund recently criticized the sudden shutdown of the Brazilian betting market. He described the prohibition as an unfortunate result of a populist agenda. The move dismantled a young regulatory framework just a year and a half after launch.

Brazil shuts down the market

Brazil first opened its regulated online gambling market. The region immediately attracted major international attention and numerous operators secured licenses. However, the government abruptly changed direction by signing a provisional measure to prohibit online gaming.

The sudden ban effectively shut down the flourishing industry overnight. While the measure still needs full ratification, the political situation makes permanent prohibition very likely. Smaller companies suffered disproportionately and investor confidence took a massive hit.

Impact on major suppliers

During a recent earnings call, the Evolution boss stated that the market closure was a total negative for the industry. The company had to close its local live casino studio and focus on supporting affected employees. Despite these setbacks, the firm kept its financial guidance unchanged.

Executives at other suppliers expressed similar disappointment over the policy reversal. Several businesses are now waiting to see if future political shifts might revive the regulated market. Evolution confirmed it would be ready to accelerate operations if the country decides to reopen.

Industry resilience

Regulatory volatility remains a common challenge for international betting suppliers operating across different regions. Carlesund noted that his company has faced similar uncertainty in other territories before. Suppliers continue monitoring regulatory updates closely while shifting focus to other active jurisdictions.