India's government has enacted the Promotion and Regulation of Online Gaming Bill, 2025, which imposes a blanket ban on real-money online gaming, including fantasy sports, poker, and rummy. The legislation was rapidly passed by Parliament and received presidential assent, leading to immediate and widespread impacts on the gaming industry. Major platforms such as Dream11, a leading fantasy sports company, have ceased real-money operations and informed the Board of Control for Cricket in India (BCCI) that they will discontinue their title sponsorship of the Indian cricket teams. The sponsorship deal, valued at approximately $44 million and signed in 2023, was set to last until 2026. BCCI Secretary Devajit Saikia confirmed the termination of the relationship and stated the board will avoid partnerships with similar organizations in the future. Dream11's parent company, Dream Sports, reported a 95% revenue loss within 72 hours of the ban and announced it will not legally challenge the law. Other gaming firms, including Winzo and Gameskraft (operator of RummyCulture), have also suspended real-money gaming operations and are exploring alternative business models such as free-to-play formats and content integration. The ban has triggered a sharp decline in related stocks, with Nazara Technologies experiencing a 28% drop over four days, prompting a strategic pivot towards casual gaming. The legislation threatens over $15 billion in startup investment value and disrupts a sector previously projected to double its $3.8 billion annual revenue within three years. Industry executives warn that while domestic platforms face extinction, offshore betting websites may fill the void. The government justifies the ban on public health grounds, citing financial risks associated with money-based gaming, though critics note the evidence is weak and the regulatory approach arbitrary. The ban's repercussions extend beyond gaming companies, affecting sponsorships, endorsements, and potentially the Indian Premier League (IPL), with broader economic consequences for the sport and the state.