India’s fast-growing mobile gaming industry has been hit hard after parliament passed a ban on online real-money games on Thursday, forcing some of the country’s top apps to suspend operations. The restriction, which also covers related advertisements and payment services, has rattled a sector once projected to reach $3.6 billion by 2029 and backed by global investors such as Tiger Global and Peak XV Partners.
Popular platforms including Dream11, PokerBaazi, and Mobile Premier League announced that they have halted their real-money gaming offerings in compliance with the new directive. The government justified the move, saying such games pose a high risk of financial loss to users and could cause psychological harm, branding them “harmful” to the public.
The fallout has been immediate in the stock market, with Nazara Technologies suffering a sharp sell-off after its associate company, Moonshine Technologies, operator of PokerBaazi, ceased real-money gaming services. Nazara’s shares have dropped about 17 per cent in just three trading sessions since the announcement.
Meanwhile, Indian gaming firms are weighing legal options, with reports suggesting that companies may approach the Supreme Court to challenge the ban. Industry players argue that the decision lacked proper consultation, endangers a promising sector, and wrongly groups skill-based games such as poker with gambling activities. The outcome of this looming legal battle could shape the future of digital gaming in India.