Cricket Season Spurs Calls for Regulation on Fantasy Sports and Opinion Trading

Consumer interest groups and civil society demand tighter regulation on fantasy sports and opinion trading platforms as their popularity surges during cricket season. A joint appeal led by the Spandan Foundation highlights financial distress caused by lack of regulations and misleading advertisements, urging government intervention to protect consumers.

Consumer interest organisations and civil society actors are urging tighter regulation on fantasy sports and opinion trading platforms. As cricket season heats up, the need to safeguard player interests is becoming increasingly evident.

The Spandan Foundation, backed by nine other organisations, has approached the Finance Ministry to address concerns over a regulatory void affecting these platforms. They argue that misleading advertisements and consumer harm are rampant, causing financial distress for addicted players.

With over 5 crore users engaging in opinion trading, and a fantasy sports market growing at 30 percent, the appeal calls for urgent government action, echoing regulations seen in other countries.

(With inputs from agencies.)