‘Online Satta’ under scanner: PlayerzPot shuts opinion trading in Haryana, Tamil Nadu

Real-money gaming platform PlayerzPot has suspended its opinion trading operations in the states of Haryana and Tamil Nadu, as mounting legal challenges continue to impact the sector. The move follows a wave of regulatory scrutiny on platforms offering prediction-based services, which many authorities argue resemble speculative gambling.

PlayerzPot, a Mumbai-based Series A startup founded in 2015 by Yogesh Doiphode and Mitesh Gangar, operates as a multi-sports fantasy and gaming platform. In 2020, the company secured $3.08 million in funding from Gameskraft. While it initially ventured into the rapidly growing opinion trading segment, the current legal climate appears to be forcing a course correction.

“The company has stopped services in Haryana and Tamil Nadu. It is reviewing legalities and is likely to stop operation across India,” confirmed a top source in the real-money gaming (RMG) industry.

A Public Interest Litigation (PIL) filed in the Punjab and Haryana High Court has called for an immediate ban on opinion trading platforms, including prohibitions on their advertising and promotional activities. Similar cases are currently being heard by the High Courts of Gujarat, Chhattisgarh, and Bombay, all of which question the legitimacy of these platforms under the guise of skill-based prediction.

PlayerzPot is not alone in its retreat. Other platforms such as SportsBaazi, MPL Opinio, Probo, and TradeX have already exited the Haryana market. Meanwhile, the Tamil Nadu government has issued legal notices to multiple companies for alleged violations of the Tamil Nadu Online Gaming Authority (TNOGA) Regulations, 2025.

The lack of a defined regulatory framework for opinion-based games has left the industry in a legal gray area. Despite attracting substantial user engagement and revenue, the model’s close resemblance to gambling has alarmed regulators and industry stakeholders alike.

Chhattisgarh recently imposed a state-wide ban on these platforms, and several other states are reportedly considering similar action. Opinion trading services such as SportsBaazi, Probo, and TradeX remain banned in Chhattisgarh.

The Confederation of All India Traders (CAIT) has intensified pressure on the central government, urging a nationwide ban on opinion trading platforms. In a strongly worded letter to IT Minister Ashwini Vaishnaw and Commerce Minister Piyush Goyal, the CAIT described these platforms as "online satta," warning that they pose a significant threat to India’s democratic institutions by enabling users to speculate on sensitive issues like election outcomes.

Adding to the chorus of concern, the Securities and Exchange Board of India (SEBI) recently issued a public advisory warning investors against engaging with such platforms. The market regulator pointed out that these services often involve binary “yes/no” propositions, which effectively amount to betting on uncertain events.

SEBI also criticized the use of financial jargon by opinion trading platforms, noting that terms like "profits," "stop loss," and "trading" create a misleading impression that users are investing in regulated securities markets.