Latest News | Opinion Trading Platform's Transactions Blocked by Rajasthan Police

Jaipur, Jan 28 (PTI) Police here have initiated action to block all transactions of an opinion trading platform on election outcomes and the stock market following fraud allegations, an official said Tuesday.

The Jyotinagar police station has directed Yes Bank management to freeze debits and credits of the account of Probo, the online trading platform.

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Police received a complaint regarding a fraud of Rs 5,000, said Kamal Singh, head constable at Jyoti Nagar police station. Following an investigation, action was initiated to freeze Probo's transactions.

Advocate Prateek Kasliwal said that such platforms let users wage bets on everything from politics to asset prices. Similar platforms are banned in Singapore, the UK and Taiwan for violations of law regarding gambling and electoral interference risks.

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He said that this could be just the tip of the iceberg, as multiple prediction platforms operate in regulatory grey zones, potentially putting millions of users' money at risk.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)