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The Opinion Trading platforms SportsBaazi and Probo have officially shut operations in the state of Haryana. The move comes in the wake of the Haryana government’s introduction of the Prevention of Public Gambling Act, 2025—an aggressive new law that targets online gambling, sports betting, and match-fixing with stringent penalties.

Haryana isn’t alone in targeting these platforms. Earlier, the Chhattisgarh government invoked its own Gambling Prohibition Act, 2022, to ban opinion trading services.

SportsBaazi, known for offering sports-based prediction markets, quietly updated its website with a disclaimer listing Haryana among the states where services are now unavailable. The message joins a growing list of restricted regions including Assam, Sikkim, Andhra Pradesh, Telangana, Chhattisgarh, and Nagaland. SportsBaazi declined to comment on queries sent by Storyboard18. 

Probo, a prominent player in the opinion trading space, confirmed it had “temporarily suspended” operations in Haryana. "Owing to implementation issues regarding the Act, Probo has taken the decision to temporarily suspend operations in the state of Haryana. We continue to engage with the concerned regulatory authorities and are hopeful to resolve the issue shortly. We remain committed to serving our customers and will resume operations once the situation is clear." a company spokesperson told Storyboard18.

But the company isn't stopping there. Probo Media Technologies Private Limited has filed a writ petition in the Punjab & Haryana High Court challenging the constitutional validity of the new gambling law. It has also approached the Supreme Court, requesting the consolidation of similar Public Interest Litigations (PILs) from Gujarat and Chhattisgarh in the Bombay High Court—a move aimed at avoiding contradictory judicial rulings and saving time.

Platforms like MPL Opinio too have shut down operations in Haryana, while TradeX went a step further, ceasing all Real Money Gaming services nationwide.

The Haryana Prevention of Public Gambling Act, 2025—tabled during the recent state budget session by Chief Minister Nayab Singh Saini—carries serious consequences. The law mandates a minimum three-year prison term and a fine of at least ₹5 lakh for those caught in match-fixing or spot-fixing activities. Repeat offenders could face up to seven years behind bars.

<a href="https://www.storyboard18.com/gaming-news/digital-satta-haryanas-new-gambling-bill-casts-shadow-over-opinion-trading-platforms-63411.htm">Read More: Digital Satta: Haryana govt’s new Gambling Act casts shadow over Opinion Trading platforms</a>

Critically, the law also expands the definition of betting. A “bet” is now legally described as any agreement, oral or written, between two or more parties about an event with an unknown outcome, where the loser must pay or forfeit a predetermined consideration. This definition mirrors the operational model of many opinion trading platforms, which allow users to place stakes on future outcomes ranging from sports to elections.

<a href="https://www.storyboard18.com/gaming-news/mpl-shuts-operations-of-opinio-in-haryana-amid-legal-crackdown-on-opinion-trading-66420.htm">Read More: MPL shuts operations of 'Opinio' in Haryana amid legal crackdown on Opinion Trading</a>

The regulatory noose tightened further when the Securities and Exchange Board of India (SEBI) issued a public advisory cautioning investors against these platforms. SEBI warned that while these platforms use familiar trading jargon like “profits” and “stop loss,” they are not registered exchanges nor are they regulated under securities laws. Transactions on such platforms, therefore, offer no investor protection and could invite legal consequences.

As the debate over regulation continues, the Advertising Standards Council of India (ASCI) has published a whitepaper titled "Examining Opinion Trading in India." The report highlights the sector’s explosive growth—more than 50 million users and ₹50,000 crore in annual transactions—and calls for urgent regulatory clarity to protect consumers and ensure ethical advertising practices.

Globally, in countries like the United States, the United Kingdom, and Australia, opinion trading apps and websites are classified as wagering platforms and are regulated. However, India still lacks specific legislation to govern these activities.

<a href="https://www.storyboard18.com/advertising/asci-flags-risks-of-opinion-trading-warns-of-misleading-advertisements-66490.htm">Read More: ASCI flags risks of Opinion Trading, warns of misleading advertisements</a>

<a href="https://www.storyboard18.com/gaming-news/breaking-sebi-flags-illegal-opinion-trading-platforms-warns-public-to-stay-away-63788.htm">Read More: Breaking: SEBI flags 'illegal' opinion trading platforms, warns public to stay away</a>

Opinion Trading platforms SportsBaazi, Probo shut operations in Haryana amid legal heat

The Ministry of Electronics and Information Technology (MeitY) has informed the Madras High Court that mandatory Aadhaar authentication for Real Money Gaming (RMG) platforms can only be enforced through legislation passed by the Parliament of India.

The statement was made through an affidavit filed by Charu Singh Munda, a scientist at MeitY, in response to a legal challenge against specific provisions of the Tamil Nadu Online Gaming Authority’s (TNOGA) 2025 regulations. The TNOGA had previously mandated Aadhaar-based One Time Password (OTP) authentication for players accessing RMG platforms under its new gaming laws.

The contested provisions — Regulation 4(iii) and 4(viii) of the TNOGA (RMG) Regulations, 2025 — make Aadhaar verification compulsory for initial logins and prohibit gameplay between 12 a.m. and 5 a.m. Several gaming companies have opposed these measures, calling them unconstitutional and illegal.

<a href="https://www.storyboard18.com/gaming-news/exclusive-a-23-games-24x7-junglee-games-take-tamil-nadu-govt-to-court-57569.htm">Read More: A23, Games 24x7, Junglee Games take Tamil Nadu govt to court</a>

MeitY clarified that under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, Aadhaar-based authentication may only be made mandatory when authorized by a law passed by Parliament. Subsection 7 of Section 4 of the Act explicitly states that such authentication cannot be imposed without legislative backing.

The affidavit added that online gaming companies may seek voluntary Aadhaar authentication under the Aadhaar Authentication for Good Governance Rules, 2020 (amended in 2025), provided that the use case serves the public interest.

"The authentication of Aadhaar number holder can be made mandatory only under a law made by Parliament as provided under subsection 7 of section 4 of the Aadhaar Act, 2016 which states that – 4(7) Notwithstanding anything contained in the foregoing provisions, mandatory authentication of an Aadhaar number holder for the provision of any service shall take place of such authentication is required by a law made by Parliament."

"Further, it is submitted that the online Gaming service providers may seek permission for use of Aadhaar authentication, on voluntary basis, under the Aadhaar authentication of Good Governance (Social Welfare, Innovation, Knowledge) Rules 2020 (as amended in 2025) provided their use case is in the interest of the State." 

Meanwhile, the TNOGA continues its crackdown on non-compliant RMG platforms. Several operators have received legal notices for alleged violations of state gaming laws. According to a senior TNOGA official, “Sending notices to RMG companies is an ongoing process. We notice violations of regulations and we act accordingly.” The official added that many platforms are still ignoring Know Your Customer (KYC) norms.

<a href="https://www.storyboard18.com/gaming-news/if-you-play-rummy-ill-become-mummy-tamil-nadus-rmg-case-reaches-final-stage-62755.htm">Read More: 'If you play Rummy, I’ll become Mummy': Tamil Nadu’s RMG case reaches final stage</a>

TNOGA Chairperson M D Nasimuddin confirmed that while some major companies have begun aligning with the new regulatory framework, others remain non-compliant. “A few of the top firms are complying with the rules now. Some are still not,” he stated. Nasimuddin added that the authority will formally request MeitY to block access to platforms operating in defiance of the state’s gaming laws.

The regulatory net appears to be widening, with some free-to-play games also receiving notices. However, legal experts suggest that such games may lie outside the scope of the current rules. Gowree Gokhale, an independent legal counsel, noted, "As per Regulation 2 of TNOGA Regulations, the said Regulations apply to online real money games. The definition of OEMG is provided in the Regulations which clearly indicates that the player needs to make deposit in cash or kind with expectation of earning winnings on the deposit. Thus, free to play games are outside the purview of the said Regulations."

As the tug-of-war between state-level regulation and central legislation unfolds, the online gaming industry in India remains in a state of legal uncertainty — caught between growing compliance demands and the limits of regulatory jurisdiction.

<a href="https://www.storyboard18.com/gaming-news/tamil-nadu-issues-fresh-notices-real-money-gaming-companies-face-meity-blockade-67173.htm">Read More: Tamil Nadu issues fresh notices; Real money gaming companies face MeitY blockade</a>



MeitY to Madras HC: Mandatory Aadhaar authentication for RMG requires Parliamentary legislation

Nazara Technologies has witnessed a 251% rise in its advertisement and business promotions along with a significant surge in its profit in the fourth quarter of fiscal year 2025

According to an exchange filing, Nazara spent Rs 151 crore on ads and promotion in the March quarter in FY25 compared to Rs 43 crore in the corresponding quarter in FY24. 

The company's profit rose to Rs 4.07 crore versus Rs 18 lakh. The company attributed the growth to solid momentum in the core gaming portfolio, particularly Fusebox and Animal Jam, along with improved unit economics in Kiddopia. Fusebox revenue increased from Rs 61.8 crore in FY24 to Rs 161.7 crore in FY25--a 162% rise year-on-year (YoY). Whereas, Animal Jam reported a 10.8%  increase in revenue to Rs 105 crore in fiscal year 2025 versus Rs 94.7 crore in FY24.

<a href="https://www.storyboard18.com/gaming-news/nazara-technologies-stake-deal-gets-cci-approval-66752.htm">Nazara Technologies stake deal gets CCI approval</a>

"FY25 was a strong year for Animal Jam, with robust growth in in-app purchases (IAPs) driven by high player engagement with premium content such as Wishing Coins, Super Boxes, Fantasy Animals (Dragons, Griffins), T-Rex Eggs, Gummy Boxes, and seasonal events like Night of the Phantoms and Jamaalidays," according to the gaming firm.

In January this year, Nazara signed a deal with Slinky and is developing a casual mobile game inspired by nostalgic play.

The PokerBaazi game reported the highest-ever-revenue growth at Rs 180.5 crore in Q4FY25 while full fiscal 25 revenue surged to Rs 588.3 crore. 

Overall, Nazara Technologies' ad expense has increased by 112% on a year-on-year basis. The company has spent Rs 376.83 crore in ads and promotion in FY25 compared to Rs 177.52 crore in FY24.

The total profit in FY25 was reduced to Rs 55.86 crore versus Rs 77.36 crore in the previous fiscal year.

The company's Q4FY25 revenue has jumped by 95.4% to Rs 520 crore. The gaming segment accounted for Rs 156 crore of the revenue while eSports revenue stood at Rs 217 crore and Ad tech at Rs 148  crore in the March quarter in FY25.

Nazara Technologies claimed to have registered the highest-ever annual EBITDA of Rs 153.5 crore in FY25, with its core gaming business delivering a healthy 19.9% EBITDA margin and overall EBITDA margins of 9.4%.

<a href="https://www.storyboard18.com/gaming-news/nazara-acquires-uk-based-pc-and-console-gaming-publisher-curve-for-rs-247-crore-66537.htm">Nazara acquires UK-based PC and console gaming publisher Curve for Rs 247 crore</a>

Nazara's Managing Director and CEO, Nitish Mittersain said, “FY25 has been a pivotal year in Nazara’s journey—marked by record profitability, deeper control across key businesses, and the successful execution of our Nazara 3.0 strategy".

The company received the NCLT nod to acquire sports entertainment startup Smaash to expand into offline gaming. It also acquired London-based video game publisher Curve Games, focused on PC and console platforms in fiscal 2025.

On the outlook of fiscal 2026, Mittersain said the company is poised for accelerated growth with increasing contributions from the core gaming portfolio. 

Nazara has expanded its presence in the US and Europe market in fiscal 2025. It also acquired a 48.42% stake in Paper Boat Apps (Kiddopia) for Rs 300 crore and increased its stake in Absolute Sports (Sportskeeda) to 100%.

Nazara Technologies' ad spend surges to Rs 151 crore in Q4 FY25

TradeX, an opinion trading platform, has announced the shutdown of its real-money gaming operations in India following increasing legal restrictions and mounting regulatory challenges. The decision comes after the platform was banned in Chhattisgarh and faced prohibition in Haryana.

TradeX, launched in 2021 by entrepreneurs Divij Goyal and Ankit Shrivastava, allowed users to trade on public opinions and events. The startup had raised $1 million in seed funding in 2022 from TDV Partners, SoMa Capital, and prominent investors including Anupam Mittal, Maninder Gulati, and Justin Mateen.

In a memo issued to users, TradeX stated: After careful consideration, we are shifting from a real money gaming platform to a free-to-play, casual social gaming platform focused on fun and entertainment. Keeping that in mind we have stopped deposits of all users as well as stopping trading activities. This change is driven by the heavy 28% GST tax, which favours bigger players and made growth and profitability difficult for us. Your existing funds are safe and accessible."

"We still believe in prediction markets and crowd wisdom in a world full of misinformation. But sadly, we have parted ways. We appreciate you being part of our community. As founders, we believe in building products. Though we were unable to sustain the journey of prediction markets, that doesn’t mean we can’t create something new. As someone said, it’s not the end but the beginning of something new. With the same passion, we are now working hard to launch a fresh, fun, free-to-play social gaming experience for you."

The move follows legal actions taken by the Chhattisgarh government, which blocked TradeX along with other platforms like SportsBaazi and Probo under the Chhattisgarh Gambling Prohibition Act, 2022, classifying them as online gambling services.

Regulatory bodies have also voiced their concerns. The Advertising Standards Council of India (ASCI) recently released a whitepaper titled “Examining Opinion Trading in India,” highlighting the urgent need for regulatory clarity in the fast-growing but largely unregulated sector. The council stated that any future advertising in this space must be accompanied by appropriate disclaimers and warned it would forward any questionable ads to relevant authorities.

Adding to the scrutiny, the Securities and Exchange Board of India (SEBI) issued a public advisory warning consumers against engaging with opinion trading platforms. According to SEBI, these platforms operate as unregulated gambling models under the guise of investment simulation and fall outside any existing investor protection framework. The agency clarified that such entities are not recognized stock exchanges or registered intermediaries, and any financial transactions on them would be deemed illegal.

In March 2025, FIR was filed against directors of Probo (opinion trading platform) Ashish Garg, Sachin Subashchandra Gupta and Shweta Sharma under Section 13 of the Public Gambling Act, 1867 (gambling in streets) and Section 318(4) of the Bharatiya Nyaya Sanhita (cheating and dishonest delivery of property) on basis that complainant Abhishek Jain, a resident of Gurugram lost around Rs. 20,000 while playing on the Probo app, which presents “Yes” or “No” questions on various events for which he was lured and induced into gambling and betting.

The Ministry of Electronics and Information Technology (MeitY) is also reportedly monitoring the situation. Internationally, countries such as the United States, United Kingdom, and Australia regulate opinion trading as wagering platforms. In India, however, the lack of dedicated legislation continues to create ambiguity around their legality.



Opinion trading platform TradeX shuts down Real-Money Gaming operations

The Tamil Nadu Online Gaming Authority (TNOGA) has escalated its regulatory efforts against Real Money Gaming (RMG) companies, issuing a fresh round of notices to platforms allegedly operating in violation of state laws. With several firms under scrutiny, TNOGA has approached the Ministry of Electronics and Information Technology (MeitY) to block non-compliant apps. 

A senior TNOGA official told Storyboard18, “Sending notices to RMG companies is an ongoing process. We notice violations of regulations and we act accordingly.” Pointing out that the companies continue to flout norms including KYC norms.

TNOGA chairperson M D Nasimuddin had confirmed that while some leading platforms have begun aligning with state regulations, others continue to operate in defiance. “A few of the top firms are complying with the rules now. Some are still not,” he said, adding that the authority will formally write to MeitY seeking a digital blockade of the defiant platforms.

The renewed crackdown comes even as the legal fate of Tamil Nadu’s online gaming regulations remains undecided. The Madras High Court is currently deliberating on the constitutional validity of the state's legislation, with a verdict yet to be delivered.

The regulatory framework enforced by TNOGA includes stringent user verification and player protection measures. These mandate Aadhaar-based user authentication, the display of repeated cautionary messages for prolonged gameplay, and the setting of mandatory time and monetary limits for players. One notable clause imposes a curfew, banning online gaming between midnight and 5 AM— a provision that has been challenged in court for being arbitrary and infringing on personal freedoms.

Gaming companies have also raised concerns over the feasibility of Aadhaar-based verification, arguing that the central government currently prohibits its use for private authentication due to privacy restrictions under the Aadhaar Act, 2016.

Petitioners further contend that the Tamil Nadu government lacks jurisdiction over online skill-based games, asserting that such games fall under the purview of the Centre’s Information Technology Rules, 2021.

The ongoing regulatory debate highlights a clash of authority between state and central laws. Dr. Palanivel Thiagarajan, Tamil Nadu’s IT Minister, previously told Storyboard18 that TNOGA reports to the Home Ministry, while the RMG industry falls under the IT sector. He also noted that the state had held discussions and was in the process of forming a formal working group.

"We'll clean up the gazette notifications and interpretations to ensure the focus remains strictly on real-money games and does not impact other areas. These are the growing pains of being a pioneer. When you're the first to pass a law and establish an authority, it sometimes takes a few iterations to get it right," he said.

It’s worth noting that in November 2023, the Madras High Court struck down the law banning online money games such as rummy and poker, declaring the law "unconstitutional." A bench comprising Chief Justice SV Gangapurwala and Justice PD Audikesavalu stated that while the state government has the authority to create rules to limit the time spent on online games or to set age restrictions for both games of chance and skill, it can only ban games of chance, not games of skill. The court further clarified that the Act could not be used to ban skill-based games like rummy and poker.



Tamil Nadu issues fresh notices; Real money gaming companies face MeitY blockade

In a move that signals growing investor interest in India’s gaming and sports media sector, the Competition Commission of India (CCI) has approved the acquisition of a controlling stake in Nazara Technologies by Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol Private Limited.

As per the media reports, the transaction will give the three entities significant influence over one of India’s most prominent digital gaming and esports companies, known for its diversified presence across interactive entertainment, AdTech, and real-money gaming (RMG). Nazara also maintains a strong foothold in esports and operates multi-sport content platforms targeting both Indian and U.S. audiences.

While Axana Estates LLP is currently a non-operational investment and real estate entity, its proposed activities suggest a broader strategic intent around asset acquisition and financial instruments. Plutus Wealth Management LLP and Junomoneta Finsol Private Limited bring in deep capital markets expertise through their stockbroking, commodity trading, and investment services.

Read More: <a href="https://www.storyboard18.com/gaming-news/exclusive-gameskraft-owned-poker-platform-pocket52-to-cease-operations-in-july-2025-65906.htm">EXCLUSIVE: Gameskraft owned Poker platform Pocket52 to cease operations in July 2025</a>

This deal marks a notable shift in investor sentiment, with financial and investment firms increasingly eyeing high-growth digital entertainment companies. With Nazara’s track record of acquiring and scaling gaming IPs, the approval may pave the way for further consolidation and capital infusion in India’s rapidly expanding gaming economy.

As per the reports, the CCI confirmed the clearance in a brief statement, adding that a detailed order will follow in due course.

Read More: <a href="https://www.storyboard18.com/gaming-news/nazara-acquires-uk-based-pc-and-console-gaming-publisher-curve-for-rs-247-crore-66537.htm">Nazara acquires UK-based PC and console gaming publisher Curve for Rs 247 crore</a>

Nazara Technologies stake deal gets CCI approval

Mobile gaming company Nazara Technologies has granted in-principle approval to the UK arm for the acquisition of Curve Digital Entertainment Ltd (CDEL) for Rs 247 crore.

In a BSE filing, Nazara Tech said that it granted in-principle approval to "Nazara Technologies UK Limited for the proposed acquisition of 100% of the issued share capital of Curve Digital Entertainment Ltd from Catalis Limited for an aggregate consideration not exceeding Rs 247 crore, to be paid in cash".

CDEL is a UK-based independent video game publisher for Console and PC platforms. In the calendar 2024, the company reported revenues of Rs 263.5 crore, EBITDA of Rs  114.4 crore, and profit before tax of Rs 49.6 crore.

According to the stock exchange filing, Nazara said that Curve’s established publishing capabilities, portfolio of high-performing IPs, and relationships with leading
platforms will enable the company to strengthen its premium game publishing vertical and access new markets.


With this acquisition, CDEL will become a wholly owned subsidiary of Nazara UK and a step-down subsidiary of the Company. Additionally, Kuju Limited, Curve Digital Publishing Limited, Runner Duck Games Limited, Fiddlesticks Games Limited, Curve Games Development One Limited, IronOak Games Inc., Attack Games Limited, wholly owned subsidiaries of CDEL, will also become the step-down subsidiaries of Nazara UK and the Company.



Nazara acquires UK-based PC and console gaming publisher Curve for Rs 247 crore

The Advertising Standards Council of India (ASCI) has released a whitepaper titled "Examining Opinion Trading in India", bringing much-needed attention to the rapidly growing but largely unregulated sector of opinion trading or prediction markets. The report urges regulatory clarity to address potential financial risks and advertising ethics surrounding these platforms.

According to data cited by the National Initiative for Consumer Interest (NICI), opinion trading platforms currently boast over 50 million users and see transactions exceeding ₹50,000 crore annually. These platforms allow users to place monetary bets on binary outcomes of real-world events, such as sports results or political developments.

Globally, such platforms are regulated either under financial instruments or gambling laws. In India, the Securities and Exchange Board of India (SEBI) issued an advisory on April 29, 2025, cautioning the public that opinion trading does not fall under its regulatory purview, as it does not involve trading of securities.

<a href="https://www.storyboard18.com/gaming-news/opinion-trading-platforms-sportsbaazi-probo-tradex-banned-in-chhattisgarh-64735.htm">Read More: Opinion Trading platforms SportsBaazi, Probo, TradeX banned in Chhattisgarh</a>

ASCI has observed a surge in promotional activity from both domestic and international platforms, with influencers frequently marketing opinion trading as skill- and knowledge-based gaming. However, the whitepaper warns that many such advertisements could be misleading and amount to pure speculation, posing serious financial risks—especially to young and financially vulnerable users.

The watchdog emphasized the urgent need for regulatory direction. “If such activities are permitted by law, advertising guidelines must be developed to protect consumers. If not, all stakeholders must work to ensure that unlawful advertising is monitored and penalized,” ASCI stated.

ASCI’s whitepaper includes a survey of international advertising self-regulators, revealing a fragmented global regulatory approach. While some countries treat opinion trading as gambling and block such apps, others regulate them as financial instruments under commodity trading laws.

<a href="https://www.storyboard18.com/gaming-news/breaking-sebi-flags-illegal-opinion-trading-platforms-warns-public-to-stay-away-63788.htm">Read More: SEBI flags 'illegal' opinion trading platforms, warns public to stay away</a>

In India, the situation remains murky. During routine ad monitoring, ASCI encountered numerous advertisements from platforms like Probo, SportsBaazi, and TradeX that allow users to place bets on outcomes such as cricket match results—activities that appear to be speculative in nature.

Some platforms, like Probo, market themselves as skill-based platforms where users make predictions on upcoming events and earn rewards for correct answers. Others, such as SportsBaazi, even allow users to “buy stocks” in players based on performance metrics. Influencers have also been actively promoting such platforms on social media, often claiming they are legal and reliable—despite the absence of clear legal validation.

The state of Chhattisgarh recently banned Probo, SportsBaazi, and TradeX under the Chhattisgarh Gambling Prohibition Act, following a public interest litigation. This move reflects growing concerns around the legal and ethical implications of opinion trading.

Manisha Kapoor, CEO & Secretary General of ASCI, said, “Opinion trading platforms raise serious concerns as their structure and mechanics closely resemble betting in some instances, and can expose consumers to significant financial risk. The advertising that accompanies these platforms often heightens the risk, with exaggerated claims of easy winnings and false assurances of reliability. No disclaimers cautioning consumers are provided. ASCI’s whitepaper highlights these risks and urges urgent regulatory clarity so appropriate steps can be taken to protect consumers from potential harm.” 

ASCI plans to escalate any questionable advertising it encounters to the relevant regulators for legal evaluation. The council also emphasized that if opinion trading is legally sanctioned in the future, advertisements must include appropriate disclaimers—similar to those required in the real-money gaming sector.

The whitepaper states, "ASCI plans to escalate all such advertisments that it comes across to the regulators, for them to decide upon the legality of such advertisements. In addition, should the regulator or courts clarify that such advertisements are legally permitted, it is important to maintain the warnings and disclaimers that are required for real money gaming. These are absent in the advertisements that ASCI has come across in its monitoring effort."

ASCI has come across ads of several opinion trading platforms where the gaming format appears to be based on pure speculation, such as predicting the outcome of a live sporting event. Predicting match wins appears to be one of the most common forms of opinion trading. 

The report added, that the advertising viewed and analysed there is a sense that these involve an element of risk because there are chances of financial losses. The question of whether these are to be viewed as knowledge or skill based games or games based on pure speculation remains unanswered.

<a href="https://www.storyboard18.com/gaming-news/digital-satta-in-disguise-legal-heat-intensifies-for-opinion-trading-apps-sportsbaazi-probo-tradex-65981.htm">Read More: Digital Satta in disguise: Legal heat intensifies for Opinion Trading apps SportsBaazi, Probo & TradeX</a>


ASCI flags risks of Opinion Trading, warns of misleading advertisements

The Ministry of Information and Broadcasting (MIB) and the Government of Maharashtra are expediting the development of the Indian Institute of Creative Technology (IICT), to be established at Film City in Goregaon, Mumbai. Vice Chancellors from multiple Maharashtra universities recently convened with key stakeholders from the AVGC-XR industry. The discussions centred around academic structures, industry expectations, and talent development pathways.

The IICT, envisioned as a premier hub for creative education and innovation, is modelled on the lines of the IITs and IIMs, and is expected to offer world-class training for professionals in the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sectors.

The central government has already sanctioned ₹391 crore for the project, which forms part of a broader national strategy to nurture talent in the rapidly growing digital content and immersive media space. A Memorandum of Understanding (MoU) was recently signed between the MIB and the Maharashtra government, reaffirming a shared commitment to building the IICT as a globally competitive institution.

As part of the groundwork to align academic initiatives with industry demands, multiple Universities in Maharashtra are working towards developing a framework for IICT courses. 

"Vice Chancellors were primarily looking to understand the video game industry from an IICT perspective—how it's evolving, what the talent needs are, and what educational gaps exist," said Sridhar Muppidi, Chairperson of the Game Developer Association of India (GDAI). "It was encouraging to see that their interests closely aligned with industry concerns."

Muppidi added that GDAI has proposed introducing a three-semester elective in engineering colleges focused on video game development, in addition to exploring one- to two-year Master’s programs. These initiatives aim to attract high-IQ students and promote strong, project-based learning.

<a href="https://www.storyboard18.com/digital/maharashtra-mib-to-sign-mou-for-240-acre-creative-hub-development-in-mumbai-62150.htm">Read More: Maharashtra, MIB to sign MoU for 240 acre creative hub development in Mumbai</a>

Other stakeholders privy to the development told Storyboard18 that the government of Maharashtra is having active discussion about course duration, content packaging, and structure. A stakeholder on condition of anonymity said "But with technology—especially AI—changing so rapidly, there's concern over creating long-term courses that may become outdated by the time students graduate."

He further said, "The focus is shifting toward foundational and discipline-based learning—skills that remain relevant over time. Instead of training students on specific tools, the idea is to equip them with core principles that can adapt as technology evolves. Simultaneously, there’s discussion about short-term, finishing-school style programs to meet immediate industry needs."

The stakeholders collectively pressed about the need for skilled talent. The stakeholders from multiple sectors highlighted the existing talent gaps and emphasized that while the industry can absorb some of the workforce, the goal should be to produce entrepreneurial, high-quality creators—people who can start their own ventures and not just look for jobs.

Storyboard18 had earlier reported that the Ministry of Information and Broadcasting is also planning to open its first regional Indian Institute of Creative Technology (IICT) center at Hyderabad. The centre will be located at Hyderabad's IMAGE (Innovation in animation, Multimedia, Gaming, and Entertainment) Tower. 

<a href="https://www.storyboard18.com/gaming-news/exclusive-mib-to-build-first-regional-iict-centre-in-hyderabads-image-tower-65590.htm">EXCLUSIVE: MIB to build first regional IICT centre in Hyderabad’s IMAGE Tower</a>

While Maharashtra government will soon sign an MoU with the MIB to develop massive global creative centre on a 240-acre land parcel in Malad, Mumbai. This ambitious project follows the announcement of the Indian Institute of Creative Technologies (IICT) at Dadasaheb Phalke Film City in Goregaon, aimed at nurturing talent in the burgeoning Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sectors.

Union Minister Ashwini Vaishnaw had earlier announced that a $1 billion fund will be created for the creators' economy. This fund will be dedicated to ensuring that the energetic creators, who are using the latest technologies today, will be able to access capital, hone their skills, upgrade their production levels, and reach the global market.

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MIB, Maharashtra fast-track IICT development; University VCs meet AVGC stakeholders

Online poker platform Pocket52, owned by gaming major Gameskraft, will cease operations in July 2025, in response to mounting regulatory challenges and the imposition of a 28% Goods and Services Tax (GST) on the real-money gaming sector. Gameskraft announced that the shutdown is a “strategic pause” as it re-evaluates its long-term approach to the poker category.



 
Launched in 2018 by entrepreneurs Nitesh Salvi, Saurav Suman, Debashish Bhattacharjee, and Satyam Verma, Pocket52 quickly gained traction as a platform for online poker enthusiasts in India. The startup raised $600,000 in seed funding that same year, backed by Speciale Invest and prominent poker players like Abhigya Sagar. In 2020, it secured $1.75 million in Series A funding from Gameskraft. According to Tracxn, Pocket52's revenue stood at $8.54 million as of March 31, 2024.



 
In a statement to Storyboard18, the company said, "While Pocket52 saw encouraging engagement, the company has recognised the need for a deeper momentum and a more focused strategy to meaningfully scale and deliver a differentiated experience to players. Staying true to this commitment, Gameskraft has announced a strategic pause in the operations of its Poker platform, Pocket52, as part of a broader plan to reassess and reimagine its long-term approach to the category."



 
“We remain committed to the Poker ecosystem in India. This pause allows us to reimagine what a best-in-class Poker platform should look like, one that delivers excellence, innovation, and sustainable impact.” the company stated.

 
"All relevant communications are being sent to the players and will continue to be sent as the process progresses. The 'Add Cash' feature will be discontinued on 22nd May 2025, with Gameplay ending on 30th May 2025. The app will remain accessible until July 2025. All existing customer funds remain secure and will be accessible through standard withdrawal processes that will be communicated to all players. Furthermore, this pause does not impact the employee strength of the company."




 
"Gameskraft remains steadfast in its mission to create innovative, high-impact digital experiences for players across the country'.

 
The move comes amid a wave of consolidation and strategic shifts within India’s real-money gaming (RMG) industry, driven largely by an uncertain regulatory climate and the steep 28% GST on gaming platforms.



 
Recently, Nazara Technologies acquired a significant stake in Moonshine Technology Pvt Ltd, the parent company of PokerBaazi, in a deal valued at ₹982 crore. In a separate development, Delta Corp Limited signed an agreement with Head Digital Works to acquire Deltatech Gaming, which operates the online poker platform Adda52. Analysts believe such consolidations will become more frequent as companies navigate a complex regulatory landscape.


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