The €24bn Shadow Economy Lisbon Can’t Tame

(AsiaGameHub) –   By: Adrian Kingsley

Manuel Castro Almeida calls the black market a plague. It is a strong word. But words do not stop digital fraud. The Minister wants updated rules. He wants active prevention. Yet the illicit market is huge. It rivals the legal sector. This suggests a failure of current governance. The state is losing control.

The official announcement focuses on awareness. The government launched a new initiative. It involves the Directorate-General for Consumer Affairs. The Food and Economic Security Authority is also involved. They want to warn citizens. SRIJ data shows the legal market grew. Q4 2025 generated €337.6m. This is a 4.5% increase. There are 17 licensed operators. They operate under strict rules. The system offers self-exclusion. It is mobile-optimized now.

The reality is different. The illicit sector is worth about €24bn. It matches the legal market value. This shadow economy destroys families. It drains tax revenue. Parliament tried to act. The Livre party proposed stricter ad controls. The Social Democrats blocked it. The People’s Party blocked it. They ignored the Minister’s plea. They kept the loopholes open. The impunity remains.

Regulation cannot rely on awareness alone. The legal framework is too weak. It cannot compete with the black market. The government must enforce stricter advertising bans. They need to close the digital gaps. Otherwise, the plague will spread.

Author bio: Adrian Kingsley, an internationally renowned scholar who has long studied public administration and social policy.