Dream Sports, parent of Dream11, is pivoting its business after the new Online Gaming Bill 2025 banned paid fantasy sports. CEO Harsh Jain told staff there’s “no legal pathway” to continue Dream11’s contests, which generated over 90% of company revenue and attracted 280M+ users.
The Mumbai unicorn, valued at \$8B in 2021, will now focus on smaller verticals — sports media platform FanCode, travel venture DreamSetGo, and Dream Game Studios. Dream11, which earned ₹9,600 crore revenue in FY24, has paused all pay-to-play contests and assured users their balances are safe.
With its core model shut down, Dream Sports faces the challenge of rebuilding growth in a post-fantasy era.