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Anupam Mittal, founder and CEO of People Group and well-known angel investor, has sharply criticised the Indian government’s recent decision to ban real-money gaming, arguing that the move destroys a legitimate industry while failing to address the root concerns.

In a LinkedIn post, Mittal drew parallels with past bans, noting that prohibitions rarely stop consumption but often push activities into black markets. He highlighted that the real-money gaming sector contributed significantly to the economy, generating around ₹27,000 crore in GST annually, driving more than ₹10,000 crore in ad revenues, and creating thousands of jobs in games of skill.

“Why? Because many got addicted. Some went broke. Fair concerns but do we ban alcohol because some become alcoholics? Do we ban stock trading because some blow up their savings?” Mittal wrote, questioning the rationale behind blanket prohibitions.

According to him, most bans have three outcomes: the government loses revenue, users lose protection, and black markets thrive. Citing reports of an illegal gaming market worth ₹8.3 lakh crore, he warned that the ban could fuel unregulated activity rather than curb addiction.

While acknowledging the hope that the ban might encourage growth in real gaming and e-sports in the long run, Mittal said that at present, the move looks like “moral policing dressed up as policy.” He also quipped whether India is trying to “out-ban China.”

The post has sparked debate within the industry, as stakeholders weigh the economic and social consequences of the ban against its intended protections.