🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

FIR against fantasy platform Sportasy under new Haryana gambling law; pressure mounts on Dream11, My11Circle, others

EntrackrEntrackr · 6m ago
FIR against fantasy platform Sportasy under new Haryana gambling law; pressure mounts on Dream11, My11Circle, others
Medial

Under Haryana’s new gambling law, the state has registered its first FIR against fantasy sports platform Sportasy, owned by Blossomfield Gamingzone Pvt Ltd. The complaint, filed by Hari Nuniya, a resident of Naharpur, signals the beginning of Haryana’s action against fantasy gaming operators. The move follows Haryana's notification of the Prevention of Public Gambling Act, 2025, in May. The revised law includes fantasy sports and opinion trading platforms within its scope, unless they are specifically recognised as "games of skill" by the state government under Sections 2(g) and 16 of the Act. Despite previous court rulings that classify fantasy sports as skill-based, Haryana’s law requires explicit approval at the state level. Without this, even long-time operators may face legal consequences. Platforms like MPL have already suspended their fantasy and opinion-trading services in Haryana, anticipating such risks. But others including Dream11, My11Circle, SportsBaazi, and MyTeam11 continue to operate in the state. With the FIR against Sportasy now public, pressure is mounting on fantasy games, rummy, and opinion trading apps, including Dream11, My11Circle, MyTeam11, and Sportsbaazi, among many others. Legal experts say they could be vulnerable to similar action, including FIRs, criminal proceedings, asset freezes, and operational disruptions, if they fail to secure state recognition. After the new law came into effect, authorities took action in the opinion trading space. In May, Gurugram Police froze over Rs 100 crore linked to the Probo app. Probo then approached the Punjab and Haryana High Court, which refused to release the funds. The company subsequently moved to the Supreme Court on June 2, but the Court directed it to return to the High Court for a full hearing. The High Court heard the matter today and instructed the investigating officers to present all relevant details at the next hearing on June 12 (tomorrow). This FIR against Sportasy is the first known case under the new law targeting a fantasy sports platform. Last month, Entrackr reported on how apps like Dream11, My11Circle, and others are still running in Haryana after the new law came into effect. The report explained how the law’s broad definition of “betting” includes fantasy sports, opinion trading, and other real-money gaming platforms.

Probo assures full cooperation with authorities after ED raids

EntrackrEntrackr · 5m ago
Probo assures full cooperation with authorities after ED raids
Medial

Probo assures full cooperation with authorities after ED raids Following the Enforcement Directorate's raids on Probo and seizure of assets worth Rs 284 crore, the Gurugram-based startup has issued a public statement addressing the developments. The company emphasized that it is fully cooperating with law enforcement in the ongoing inquiry and expressed confidence in emerging stronger through the process. “In light of recent developments, we would like to assure all stakeholders and the public that Probo is cooperating with law enforcement authorities in the ongoing inquiries,” a spokesperson said. Probo highlighted its role in building a “nascent-yet-transformative” technology and underscored its belief in India’s regulatory ecosystem. “We remain confident that our commitment to compliance and innovation will help us emerge stronger. We have complete faith in India's robust regulatory framework and its vision for responsible tech innovation,” the spokesperson added. Probo, which claims to operate a skill-based platform and India's leading information marketplace, also shared metrics on its user base and reach. According to the statement, over 4.2 crore users have accessed the platform, which the company says offers wealth creation opportunities beyond traditional financial systems. The company also reaffirmed its adherence to applicable laws and emphasized user safety and trust as top priorities. The ED action is part of a broader probe into what the agency has termed "illegal online betting operations under the guise of opinion trading.” Probo is among several platforms currently under scrutiny.

Betting app Fiewin in ED crosshairs; attaches assets including cryptocurrency in Binance

Economic TimesEconomic Times · 1y ago
Betting app Fiewin in ED crosshairs; attaches assets including cryptocurrency in Binance
Medial

The Enforcement Directorate (ED) has seized assets, including cryptocurrency in Binance wallets, as part of an investigation into illegal online applications connected to Chinese nationals. Indian accomplices assisted Chinese nationals in running the illegal betting/gaming app called Fiewin, which promised easy money. The app generated around Rs 400 crore ($53 million) through simple luck-based games before the funds were funneled into Binance wallets owned by Chinese nationals. The ED has attached assets worth Rs 25.78 crore ($3.4 million), including cryptocurrency worth Rs 24.9 crore ($3.3 million) belonging to the Chinese nationals. Several Chinese nationals have been identified in connection with the case.

Download the medial app to read full posts, comements and news.