The world's largest real money gaming market disappears: India's $5.9 billion industry undergoes dramatic changes, VC investments lose over $3 billion.

On the early morning of May 1, 2026, in an office in New Delhi, India, Harsh Jain, co-founder of Dream11, stared at his mobile screen, which popped up the message: "The PROGA Act is officially in effect, all real-money gaming operations must cease immediately."At that moment, the nightmare of the In

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