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Raja was reportedly permitted to access as much as £600,000 ($800,000) a day from his bank account to finance his casino play, according to The Telegraph.

“He would play and play, drink and drink, and if he didn’t lose all his money at the Palm Beach, he would then get in a car and go around the corner to the Colony Club,” the source told the newspaper.

The Telegraph noted that it does not claim any funds allegedly misappropriated from MFS were used to finance Raja’s gambling.

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The president is not seeking to introduce the measures through a full bill, as the legislative process in Congress could reduce their immediate political impact ahead of the elections.

Some factions within the government, especially the Ministry of Finance, are resisting more drastic measures. The Ministry of Finance, responsible for regulating sports betting and online gaming, understands the sector’s importance to the economy. Finance Minister Dario Durigan’s difficulty lies in convincing Lula that a well-regulated activity is important for public finances. Lula has said, in line with critics of the sector, that if it were up to him, he would end betting in Brazil.

The president’s critical view of betting is on par with other candidates. Studies by the Workers’ Party (PT) indicate that three out of four Brazilians are against betting establishments. This is the president’s justification against the sector.

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A Detroit business owner will soon face city scrutiny after permitting crypto-based prediction market platform Polymarket to paint an advertisement on a water tower located on his industrial property.

The Detroit Free Press reported on Wednesday (Sept. 16) that a water tower located northeast of the downtown city was recently painted and branded with Polymarket’s likeness. The water tower is located just off Interstate 94 at Mount Elliott Street, Exit 217.

The water tower is specifically located at the business of Mount Elliott Crushing, a recycler of concrete products. While the water tower is on private land, the City of Detroit requires that permits be secured for advertisements on such structures.