LATAM iGaming moved fast in 2025. Some weeks felt like five different regulatory updates landing at once—new ordinances, court decisions, payment-flow restrictions, advertising rules, and political discussions happening in parallel. For operators, it created the sense of a market in constant back-and-forth motion: progress on one side, tighter controls on the other.

This acceleration is happening in one of the world’s fastest-growing regulated gambling regions, where LATAM’s online betting and gaming market is projected to surpass US$10 billion in gross gaming revenue within the next few years, driven primarily by Brazil, Mexico, Colombia, and Peru.

But staying on top of these changes is necessary before 2026 begins, especially as Brazil enters the first fully regulated year of its market and Mexico steps up its AML enforcement.

This digest brings together the key developments you may have missed and outlines what operators should expect in 2026. The goal is simple: help you enter the new year with a clear view of where LATAM iGaming stands and where it’s headed.

LATAM iGaming in 2025—Snapshot

2025 pushed LATAM toward firmer regulatory rules, stronger enforcement, and clearer expectations for operators. Brazil moved into full federal supervision, Mexico used financial and security tools to control casino activity, and other markets reinforced responsible-gaming and AML standards.

Regulation became more defined

• Brazil began operating under Law 14.790/2023, with the Ministry of Finance’s Secretariat of Prizes and Betting (SPA) as the federal regulator. SPA now authorizes, supervises, and sanctions betting operators. (Source, Source)
• Peru continued implementing Law 31557 / 31806 and Supreme Decree 005-2023-MINCETUR, giving the country one of the clearest online frameworks in the region. (Source)

Enforcement and AML pressure increased

• In Mexico, the Ministry of Finance (SHCP) strengthened actions to prevent money laundering in casinos and coordinated federal operations that led to the suspension of 13 casinos for alleged illicit activity. (Source)
• Peru’s SBS issued Resolution 03622-2025, setting AML/CFT rules specifically for online gambling and sports betting companies under MINCETUR. (Source)

Responsible gambling became non-negotiable

• Brazil’s SPA launched policies focused on mental-health protection for bettors, a centralized self-exclusion system, and player-set limits as part of its regulatory plan. (Source, Source)
• Colombia’s updated responsible-gaming rules (Resolution 20244000021144) entered their first full enforcement year. It explicitly aims to foster a “cultura de Juego Responsable,” with education, early-warning signs, and support mechanisms as mandatory elements. (Source)

Advertising and platform visibility were tightened

• Argentina continued enforcing gambling advertising rules under Law 6.330, which requires mandatory warnings and design standards in all media. (Source)
• Chile’s Supreme Court ordered ISPs to block unlicensed betting sites, applying court-mandated restrictions until a new online gambling law is approved. (Source)

Brazil 2026 Outlook—The Market to Watch

Brazil enters 2026 with its first full year of federal supervision and a clearer view of how the fixed-odds betting market will mature. At the end of 2025, the Ministry of Finance’s Secretariat of Prizes and Betting (SPA) opened a public consultation on its 2026–2027 Regulatory Agenda, signaling where the next phase of rulemaking is heading.

Refining the Framework in 2026

After observing how the regulated market operated in 2025, SPA proposes updating several core components of the framework in 2026. These updates focus on:

• Authorization processes
• Supervision mechanisms
• Sanctioning procedures

This indicates that 2026 will be a year of strengthening the enforcement environment rather than introducing entirely new structures.

Reassessing AML and Lottery Regulations in 2027

SPA also plans a 2027 review of:

• Anti–money laundering and counter-terrorism financing rules, incorporating data and risk assessments gathered during the first years of oversight.
• Regulations for the advance collection of popular savings and lottery products under concession.

These reviews reflect a shift toward deeper financial-integrity controls and consistency across all lottery-related verticals.

New Regulatory Themes Proposed for 2026

SPA’s proposed agenda also introduces three new themes shaped by market behavior and social concerns:

1. Use of physical digital terminals for fixed-odds betting and lottery operations.
2. Oversight of affiliate advertising in internet applications.
3. Development of a player risk-profile monitoring tool, allowing bettors to view and track their gambling behavior through an SPA-integrated system.

Together, these themes show Brazil’s intent to regulate not just operator systems, but also distribution channels, marketing ecosystems, and player-protection technology.

Why 2026 Is Brazil’s First “Steady-State” Year

• 2024: laws were passed.
• 2025: regulatory structure and ordinances were implemented.
• 2026: supervision, enforcement, and day-to-day compliance take over.

For operators, this means predictable rules, clearer obligations, and a regulator with the authority to monitor operations. Entering Brazil in 2026 requires full compliance readiness, technical, financial, and responsible gaming, as the country moves into active oversight.

Mexico 2026 Outlook—Enforcement and Reform on the Table

Mexico enters 2026 with two clear signals:

• gambling and casinos remain treated as high-risk activities for AML
• there is active legislative work to update the 1947 gambling law, even though nothing has passed yet

AML and “actividades vulnerables” stay a priority

Under the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, casinos, games with bets, contests, and raffles are classified as “actividades vulnerables” and must comply with strict reporting and customer due diligence rules via the SAT’s anti-money-laundering portal. (Source, Source)

What this means for 2026:

Even without new gambling legislation, operators should expect continued strict enforcement of AML obligations, monitoring of casino and betting flows, and close scrutiny from SHCP, UIF, and SEGOB as part of Mexico’s broader anti-money-laundering strategy.

Active legislative work to modernize the gambling law

Mexico still relies on the Ley Federal de Juegos y Sorteos, in force since 1947, with permits and supervision handled by the Ministry of the Interior through the Dirección General de Juegos y Sorteos. (Source)

The Ministry of the Interior publicly stated that there is an institutional interest in modifying the 1947 law on games and raffles to reflect today’s reality. (Source)

What this means for 2026:

• Mexico starts 2026 with real legislative proposals already filed to modernize gambling regulation.
• Congress may debate and refine these initiatives during 2026; until something is enacted, operators work under the existing law, but should be prepared for potential changes to structure, licensing, and sanctions once a reform advances.

Other LATAM Markets in 2026 at a Glance

• Peru — 2026 is the first full operational year under MINCETUR’s updated structure for online gaming and betting, following the creation of the Dirección de Autorización y Registro de Juegos a Distancia y Apuestas Deportivas a Distancia in the revised Reglamento de Organización y Funciones. (Source) AML obligations also intensify as SBS Resolution 03622-2025 (AML/CFT rules for remote gaming and betting) enters its full implementation cycle. 
• Colombia — Coljuegos moves into continued execution of its 2023–2026 Strategic Plan, which prioritizes strengthening legal play, reducing illegality, and reinforcing responsible-gaming policies. Online concession requirements were updated by a 2025 resolution modifying Resolution 20161200025334, meaning 2026 operators face refreshed technical and financial obligations for online games.
• Chile — Online betting legislation aims to move forward: The Chilean Senate approved in general the online betting regulation project (Boletín 14.838-03), designed to create the first legal framework for online gambling — including licensing, consumer protections, responsible-gaming safeguards, and enforcement mechanisms. The initiative is now in detailed review by Senate committees before final approval. (Source)
• Argentina (Buenos Aires City) — Responsible gaming and advertising rules continue under CABA’s Law 6330, which governs the prevention of pathological gambling and includes principles for responsible advertising of games of chance. The law requires that gambling publicity respect those principles and that communications comply with limitations designed to protect consumers.
  The CABA Legislature also registered a draft law in 2025 (Expediente 609-D-2025) titled “Regulación en la publicidad de casas de apuesta y casinos virtuales,” which proposes tighter rules for promoting online betting and virtual casinos and remained under committee review (“en comisión”) as of March 2025. (Source)

What This Means for Operators

Brazil

For operators targeting Brazil in 2026, compliance readiness is no longer a launch-phase task but an ongoing operational requirement. Licensing, AML reporting, responsible gaming tools, and marketing controls are now subject to active supervision by the Secretariat of Prizes and Betting (SPA).

Platforms entering or scaling in Brazil must be technically prepared for audits, data sharing, player monitoring, and enforcement-driven adjustments. This means that operational flexibility and regulator-ready architecture become essential to compete in a steady state market.

Mexico

In Mexico, operators must plan for continued strict AML enforcement under the existing legal framework while remaining adaptable to potential regulatory reform. Gambling remains classified as a high-risk activity, increasing scrutiny over payment flows, customer due diligence, and transaction reporting.

Even without new legislation in force, enforcement intensity alone requires solid compliance processes, transparent reporting, and strong financial controls to operate sustainably.

Other LATAM Markets

Across LATAM, regulators are converging toward clearer rules, stronger oversight, and standardized expectations. Operators expanding regionally must manage multiple regulatory models simultaneously, each with distinct licensing, AML, and responsible gaming obligations.

Scalable platforms that support jurisdiction-specific configurations reduce operational friction and allow faster market entry as regulations evolve.

Conclusion

LATAM iGaming closes 2025 with clearer rules, stronger enforcement, and far less room for interpretation across key markets. In 2026, the focus shifts from building frameworks to operating within them, as regulators move from rollout to supervision and refinement.

For operators, this means 2026 is about execution. Compliance needs to be built into product, payments, and marketing from day one, not added later. Local payment flows, AML controls, and responsible-gaming tools must align with each jurisdiction’s expectations, while advertising and player communication require stricter discipline. 

Markets will reward operators that plan for regulatory continuity, budget for enforcement-driven costs, and design platforms flexible enough to adjust as rules evolve, especially in Brazil, Mexico, and other maturing LATAM jurisdictions.

—————

This document is provided to you for your information and discussion only. This document was based on public sources of information and was created by the Atlaslive team for marketing usage. It is not a solicitation or an offer to buy or sell any gambling-related product. Nothing in this document constitutes legal or business development advice. This document has been prepared from sources Atlaslive believes to be reliable, but we do not guarantee its accuracy or completeness and do not accept liability for any loss arising from its use. Atlaslive reserves the right to remedy any errors that may be present in this document.

‍