India’s parliament on Thursday passed a bill to ban online games played with money in a move that threatens the survival of the popular fantasy gaming sector, after Prime Minister Narendra Modi’s government flagged the high risk of financial harm.
The sudden ban has shocked an industry backed by venture capital firms like Tiger Global and Peak XV Partners and which was set to be worth US$3.6 billion in India by 2029.
Executives fear imminent job losses and a complete shutdown of many app-based…
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