Extracts from a Diary

Examining claimed market failures, government intervention, and the regulatory alternatives that were ignored It’s not often that you get one clean-and-cut story that at the same time showcases: Government’s natural tendency to consolidate more power and reduce citizens’ freedoms, their swift movement in doing so, in a growing industry that has a large number of business-to-consumer users, and the overwhelming discourse, even among the otherwise basic economics educated individuals, is actually cheering them on in this move. But, that’s what happened. The government (of India) recently came out with a bill that effectively banned ‘real money gaming’ (RMG). It banned apps that allowed or facilitated gambling or fantasy leagues, where people bet actual money. It’s a 10 page bill and can be read here ( link ) if one is interested. It passed on Friday, 22nd August 2025 after the President Droupadi Murmu signed on it. In about 4 days from the time it re...