India’s Rajya Sabha approves bill banning real money online games, raising concerns for the $4.3B industry

The Rajya Sabha has passed the Online Gaming Bill, 2025, raising concerns over a potential ban on real money games due to financial and illicit risks. Minister Ashwini Vaishnaw stressed user safety, but the $4.3 billion industry, including Dream11 and MPL, faces disruption. The AIGF seeks regulation instead of a ban, while startups and investors explore legal options. The Bill restricts financial transactions, exempting only esports competitions.