Platform · Opinion Markets
Probo
India's largest opinion-trading platform · DEFUNCT real-money (PROGA 2025 banned all money-based online gaming; founders' ₹284.5cr assets frozen Jul 2025 under PMLA)
- Mechanism
- Opinion Markets
- Status
- Defunct real-money, shut down under PROGA ('Probo is closed for business'). ED actions: ₹284.5cr freeze (Jul 2025) + ₹117.41cr attachment (Dec 2025). No free-to-play pivot.
- Founded
- 2019
- Market types
- Binary
- Audience
- Retail · Sports · Politics
- Website
- probo.in
- @probo_india
Pricing mechanism
Centralized matching
Settlement
Centralized operator
Strengths
- Was the largest in the Indian opinion-trading category · ~₹459cr FY24 revenue, sector-leading scale before shutdown
- $28.5M raised across 4 rounds led by Peak XV (Sequoia India) + Elevation Capital · strong cap table even though now stranded
- Brand recognition in tier-2/3 India that could be leveraged for any future legal product (e.g. Probo Academy free-to-play)
Weaknesses
- Real-money operations defunct under PROGA
- Founders under PMLA investigation (₹284.5cr frozen)
- Public communication channels limited.
- Free-to-play pivot lacks the win-real-money flywheel that drove engagement
- Constitutional challenge against PROGA is the only restoration path and timing is uncertain
About this mechanism
India-primary opinion-trading category · Yes/No contracts on sports, politics, weather, entertainment in INR. Subject to PROGA (May 2026) which classified them as 'online money games' and banned national real-money operation.