The Enforcement Directorate (ED) has provisionally attached assets worth ₹117.41 crore linked to Probo Media Technologies Private Limited. The action is part of an ongoing money laundering investigation into the online prediction platform, which authorities allege operated as gambling disguised as online gaming. The attachment order, issued on December 9, 2025, covers various movable and immovable properties. ^[1][2][3]### ED Intensifies Probo Investigation The Enforcement Directorate's Gurugram Zonal Office carried out the provisional attachment. The seized assets include fixed deposits, investments in shares, demand drafts, bank balances held in the company's name, and several residential apartments. These properties belong to Probo Media Technologies and family members of its directors. T^[1][2][3]his move escalates the ED's probe into the controversial platform. ^[1]Probo Media Technologies operates the Probo app and website, known for its "yes/no" prediction-based questions on current events and market outcomes. I^[1][4]nvestigators claim the platform promoted online gambling under the guise of "online gaming." T^[1][2]he company suspended its operations in August 2025, following the introduction of the Promotion and Regulation of Online Gaming Act, 2025. ^[1][3]### Allegations of Deceptive Practices The ED initiated its investigation based on multiple First Information Reports (FIRs) filed across Gurugram and Palwal in Haryana, and Agra in Uttar Pradesh. C^[1][2][4]omplainants alleged they were misled with promises of easy earnings through simple prediction questions. H^[1]owever, the underlying mechanism allegedly constituted gambling, not skill-based gaming. ^[1][2]According to the FIRs, users were "cheated and dishonestly induced" to participate in what was presented as a skill-based gaming opportunity. T^[1]he ED's findings indicate that Probo Media misrepresented itself. It actually facilitated online betting activities, defrauding users across multiple states. T^[1][2]he agency claims the company, through its promoters and directors, generated proceeds of crime worth approximately ₹1,245.64 crore through these activities. Th^[1][2][3]e Probo platform was initially presented as an "opinion trading" platform. It claimed to require user knowledge and skill. How^[4]ever, investigators concluded that outcomes on the app and website were determined by chance. This made them indistinguishable from gambling. All^[4][5] games reportedly had only two possible answers: "Yes" or "No." An^[4] ED statement said the app defrauded users. It promoted a deceptive image of a legitimate platform only to exploit them through a mechanism where success was governed entirely by chance. The^[4] agency also uncovered structural irregularities in Probo's operations. This included a lack of safeguards to prevent minors from registering and failing to implement proper Know Your Customer (KYC) checks. The^[4][6] company also used misleading advertisements. Some of these promoted political and election-related opinion trading. ## Previous Actions and Financial Findings This is not the first enforcement action against Probo Media Technologies. During coordinated searches conducted on July 8 and 9, 2025, the ED froze ₹284.5 crore worth of fixed deposits and shareholdings. These^[1][4][7] assets were frozen under Section 17(1)(a) of the Prevention of Money Laundering Act (PMLA), 2002. These^[1][2] financial holdings were directly linked to the company's alleged illegal revenue streams. Three^[2] bank lockers were also sealed during these earlier raids. The ^[4][8]financial investigation has focused on tracing funds. This includes investments and profits accumulated from platform operations before the regulatory clampdown. The c^[1]ompany reportedly raised ₹134.84 crore through preference share issuances. These funds came from foreign entities based in Mauritius and the Cayman Islands. This ra^[1][4][8]ised red flags over suspected round-tripping and compliance with Foreign Direct Investment (FDI) regulations. The ED'^[1][4]s search operations resulted in the seizure of incriminating documents and digital evidence. Probo ^[1][8]Media Technologies was founded in 2019 by Ashish Garg and Sachin Subhaschandra Gupta, who is also the CEO. The com^[4][7]pany had reported revenue of ₹490 crore ($57.3 million) in the financial year 2024. Prominent^[4][7] backers of the company included Peak XV Partners (formerly Sequoia Capital India), Elevation Capital, and MK Venture Partners. ### Comp^[4][7]any Response and Next Steps Probo has stated it is fully cooperating with the Enforcement Directorate in the ongoing investigation. A company^[5][9] spokesperson affirmed that Probo adheres to all applicable laws and maintains high compliance standards. The ED c^[5]onfirmed that further investigation is in progress. The agency aims to identify additional assets, financial beneficiaries, and offshore linkages connected to the Probo network. The ED is^[2] also examining the company's digital and financial infrastructure. This includes payment gateways and intermediary platforms used to route alleged gambling proceeds. This case^[2] highlights the government's increasing scrutiny of illegal betting disguised as digital gaming.

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