Chennai, 30 May (H.S.) : The Tamil Nadu Online Gaming Authority (TNOGA) has intensified its crackdown on opinion trading apps, issuing show-cause notices to 15 firms for operating platforms that allegedly promote speculative trading disguised as gaming. These apps, which allow users to predict market trends or events for monetary rewards, have raised concerns over financial risks and regulatory violations. TNOGA's actions follow reports of widespread use among youth, prompting fears of addiction and financial losses.

Four weeks after receiving notices, several of the targeted firms have ceased offering their services in Tamil Nadu, signaling compliance with the state’s stringent regulations. TNOGA has warned that non-compliant companies could face hefty fines or bans. The authority is also collaborating with cybercrime units to monitor unregulated platforms, ensuring consumer protection and adherence to the Tamil Nadu Online Gaming Policy.

The crackdown has sparked mixed reactions. Some residents praise the government’s proactive stance, citing the need to protect vulnerable users from financial scams. However, industry experts argue that opinion trading apps operate in a gray area, blending skill-based prediction with gambling-like elements, complicating regulation. The state is now exploring stricter guidelines to differentiate legitimate platforms from those exploiting legal loopholes.

TNOGA plans to hold consultations with stakeholders to refine its regulatory framework for online gaming and trading platforms. The authority aims to balance innovation in the fintech sector with consumer safety. Meanwhile, officials have urged users to exercise caution and verify the legitimacy of apps before engaging, emphasizing the state’s commitment to curbing predatory practices in the digital economy.

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Hindusthan Samachar / Dr. R. B. Chaudhary