Several of India’s largest mobile gaming companies have suspended real-money operations following the passage of a new legislative ban by Parliament on Thursday, a development that could reshape the future of the fast-growing sector once projected to reach $3.6 billion by 2029.
The new law prohibits online real-money games, advertisements promoting them, and related payment services.
The decision has significantly disrupted the digital gaming ecosystem, which has previously drawn investments from major global backers such as Tiger Global and Peak XV Partners.
Leading gaming platforms including Dream11, PokerBaazi, and Mobile Premier League have confirmed they have halted all cash-based offerings in response to the legislation.
Prime Minister Narendra Modi’s administration has defended the move, emphasizing the financial risks to consumers and raising alarm over potential psychological impacts.
The market reaction was immediate. Shares in Nazara Technologies, which owns nearly 50% of PokerBaazi’s parent company Moonshine Technologies, have dropped approximately 17% over the last three trading days after the company discontinued its real-money gaming services on Friday.
Industry bodies are now preparing to contest the law in the Supreme Court of India. They argue the legislation was passed without adequate consultation, unfairly targets skill-based games such as poker, and threatens to derail one of the nation’s most dynamic digital industries.
The ban highlights growing regulatory scrutiny of India’s booming online gaming market, which, despite its rapid ascent, has increasingly drawn concern over issues such as addiction, gambling behavior, and consumer safety.
