Licensed online wagering sites in Brazil will be shut down on October 6 after a grace period allowing customers to reclaim their balances. President Luiz Inacio Lula da Silva announced the move to halt betting operations that were legalized less than 2 years ago.

The measure arrives before the October 4 first-round presidential election, in which Lula is in a tight race against right-wing Senator Flavio Bolsonaro. The administration says the restriction targets rising household debt, though Bolsonaro described the decision as populist and politically motivated.