We have advised start-ups and investors on the legal and policy status of fantasy stocks games. These games pose risks under both anti-gambling and securities laws and lie in a grey area. We studied applicable laws, policy proposals, and foreign precedents to identify different approaches that Indian regulators could take. And highlighted risks in each scenario. We also recommended proactive and reactive measures that fantasy stocks operators could take to mitigate risks.
We have also supported clients in presenting their policy positions on fantasy stock games before the government.
Ikigai Law’s digital gaming practice
We have advised digital gaming companies on a diverse range of issues, ranging from corporate structures and contracts, fund raising, game design, platform liability, providing skill vs chance opinions, intellectual property protection, token offerings, taxation, data, disputes, representation before law enforcement authorities and enforcement directorate, and public policy support. We have advised two of the World’s largest technology companies – one, a leading social media network, and another offering a global app store – on liability issues arising from offering games and game-related advertisements across states in India. We have also advised the central and certain state governments on policy issues pertaining to gaming regulation. We have advised on industry-wide issues through industry associations such as Internet and Mobile Association of India (IAMAI) and All-India Gaming Federation (AIGF).
We regularly advise one of India’s largest gaming platforms on legal and policy issues relating to gambling, data, payments, advertising, virtual assets, intermediary liability, tax, etc. We monitor legislative proposals and court cases at the central and state level and assess their impact on the client’s business. We also authored an investor-facing report which assessed the client’s legal compliance and demonstrated its adherence to best practices.
Our gaming practice has regularly been recognized as a leading practice by the India Business Law Journal (IBLJ).