The Enforcement Directorate (ED) has launched a sweeping crackdown on Probo Media Technologies Private Limited, the operator of the popular “Probo” app and website, in connection with an alleged illegal betting and money laundering racket. On July 8 and 9, 2025, ED officials conducted coordinated raids at four locations in Gurugram and Jind, Haryana, targeting both company offices and premises linked to the promoters, Sachin Subhaschandra Gupta and Ashish Garg. As a result of the operation, condemning documents and digital evidence were seized, and assets totaling ₹284.5 crore, including shares, fixed deposits, and access to three bank lockers, were frozen.
The ED’s action follows multiple FIRs registered in Gurugram, Palwal, and Agra, where complainants accused Probo of luring users with false promises of easy money through what appeared to be a legitimate skill-based platform. The investigation, however, revealed that the app’s core mechanism was akin to gambling, with users betting on binary “yes or no” outcomes across a broad range of topics, including sports and current affairs. Despite Probo’s claims to be a “opinion trading” marketplace, the ED claimed that this structure made it identical to traditional betting platforms.
Betting Disguised as Opinion Trading:
Probo has marketed itself as an innovative, skill-based platform, aiming to democratize wealth creation by allowing users to “trade opinions” on real-world events. With over 4.2 crore users, the company positioned its service as India’s leading information marketplace. However, the ED’s probe found that most of the questions posed to users were simple binary choices, such as “yes or no,” with outcomes determined entirely by chance rather than skill or knowledge.
The agency’s official statement highlighted that the platform’s model was designed to exploit users by initially presenting itself as a legitimate skill-based game, only to ultimately function as a betting mechanism. The investigation uncovered that Probo lacked essential safeguards, such as proper Know Your Customer (KYC) verification and age checks to prevent minors from accessing the app. Additionally, the company was found to have used misleading advertisements to attract new users and promote addictive gambling behaviors under the guise of opinion trading.
The ED also flagged the platform’s focus on sensitive topics, including election results, raising concerns about the broader societal impact of such betting activities. The investigation further revealed that Probo had received significant foreign funding, with ₹134.84 crore coming from entities based in Mauritius, the Cayman Islands, and other offshore locations via the issuance of preference shares.
Legal and Regulatory Consequences:
The crackdown on Probo comes amid growing regulatory scrutiny of online gaming and opinion trading platforms in India. Earlier this year, the Securities and Exchange Board of India (SEBI) issued a circular warning investors about the risks associated with opinion trading, clarifying that such platforms do not fall within its regulatory purview and cannot be recognized as stock exchanges. SEBI’s statement noted that any trading of securities on these platforms is illegal if the opinions traded qualify as securities.
Probo’s operational model, which lacked regulatory oversight and proper due diligence, has now drawn the attention of multiple agencies. The ED’s investigation found not only operational irregularities but also a lack of transparency in the company’s financial dealings and user onboarding processes. The absence of KYC protocols and mechanisms to prevent underage participation were highlighted as major failings, potentially exposing millions of users to financial risk and addictive behaviors.
The raids and asset freeze are part of a broader effort by Indian authorities to clamp down on illegal betting and money laundering activities facilitated by digital platforms. The ED’s ongoing investigation will continue to analyze the seized materials and financial records to determine the full extent of the alleged violations and to identify any additional individuals or entities involved.
Probo’s Response and the Road Ahead:
In response to the enforcement action, Probo has asserted its commitment to legal compliance and responsible innovation. The company stated that it is fully cooperating with authorities and expressed confidence in India’s regulatory framework and its own ability to emerge stronger from the process. Probo’s spokesperson emphasized the platform’s aim to democratize trading and wealth creation, insisting that user trust and safety remain paramount.
Despite these assurances, the future of Probo remains uncertain. The ED’s findings have cast a shadow over the company’s business model and raised questions about the legitimacy of opinion trading as a category in India’s digital economy. As the investigation continues, the case is likely to serve as a precedent for how regulators and law enforcement agencies address the rapidly evolving landscape of online gaming, betting, and opinion trading platforms.
The crackdown on Probo is a clear signal that authorities are prepared to take decisive action against platforms that blur the line between skill-based gaming and gambling. With assets worth ₹284 crore frozen and a high-profile investigation underway, the case stands as one of the most significant enforcement actions in India’s online gaming sector to date.
