Probo in hot water: Indian authority raids, seizes $33M assets
The Enforcement Directorate (ED), a law enforcement and economic intelligence agency of the Government of India, has conducted searches at four premises linked to Probo Media Technologies Private Limited, the operator of the popular “Probo” app and website. The raids were carried out in Gurugram and Jind, Haryana, as part of an ongoing investigation into alleged illegal gambling and betting activities. The agency has frozen assets worth ₹284.50 crore ($33.17 million) and seized incriminating documents and digital evidence.
Company allegedly disguised betting as opinion trading
According to the ED’s official statement released on 9 July 2025, Probo Media Technologies and its promoters Sachin Subhaschandra Gupta and Ashish Garg are under investigation for operating a platform that misled users into participating in activities akin to gambling.
The company claimed its app and website were based on skill-based opinion trading, but the ED’s probe suggests otherwise.
“Investigation revealed that the app/ websites defrauds its users by initially promoting a deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism where success is governed entirely by chance and not by the user’s abilities or insights.”
– Enforcement Directorate of India
The ED pointed out that most of the questions on the Probo platform had simple “yes or no” options—making it a binary outcome system, indistinguishable from games of chance. This model, according to the agency, cannot be classified as a skill-based format.
FIRs filed in Haryana and Uttar Pradesh
The investigation is based on several First Information Reports (FIRs) registered against the company and its promoters under the Bharatiya Nyaya Sanhita and the Public Gambling Act. These FIRs were filed in Gurugram and Palwal (Haryana) and Agra (Uttar Pradesh).
The complaints allege that users were cheated through a scheme involving binary questions where the outcome was not driven by skill, as advertised, but by chance. The complainants claimed financial losses due to this misrepresentation.
No age verification
The ED has also highlighted several compliance violations by Probo Media Technologies:
- No age verification: The platform lacked a mechanism to prevent minors from signing up.
- Inadequate KYC process: Proper due diligence was not carried out during user onboarding.
- Misleading promotions: New users were lured with deceptive advertisements that did not accurately represent the risk involved.
These practices, the agency said, contributed to the platform’s wide reach and user engagement, while allegedly disguising gambling under the label of gaming.
Foreign funding under the scanner
As part of the financial probe, the ED uncovered that the company had received ₹134.84 crore in funding through the issuance of preference shares to foreign entities. These entities are reportedly registered in Mauritius and the Cayman Islands—jurisdictions often linked to tax avoidance and money laundering concerns.
“Investigation also revealed that the company received ₹134.84 crore against the issue of preference shares from foreign entities,” the ED said.
The source, purpose, and use of these funds are now being closely examined under the Prevention of Money Laundering Act (PMLA), 2002.
Assets frozen, digital evidence seized
During the raids, the ED seized digital devices, incriminating documents, and transaction records. Additionally, the agency has frozen shares and fixed deposits worth ₹284.50 crore and secured access to three bank lockers associated with the promoters.
The investigation is ongoing, and further action will depend on the analysis of the seized materials and financial records.
Background on Probo
Probo is known for allowing users to place predictions on a range of topics—from sports to current affairs—by answering yes/no questions. The company markets the platform as an “opinion trading” space, aiming to build engagement around live events and real-time trends. However, this model has now come under scrutiny for its similarities to online betting and its potential to cause financial harm.
