MPL became a unicorn in 2021 and operates a real-money skill-based gaming platform across India, US, and other markets. However, following India's government decision to push ahead with an iGaming ban introduced in August and passed by Parliament with presidential assent on 22 August 2025, MPL cut approximately 60% of its total workforce. The company is currently seeking to grow its presence within the US market.
Cyborg Score Rationale
MPL achieved unicorn status with substantial funding and a large user base, demonstrating strong product-market fit in gaming. However, the August 2025 India iGaming ban—its core market—forced 60% workforce reductions and effectively shut down real-money gaming operations domestically. International expansion (US, Nigeria) offers potential recovery, but execution risk is elevated given regulatory headwinds.
Top Insights
Core India market decimated by August 2025 iGaming ban; MPL's mpl.live site now shows compliance banner: 'no cash games available'
Forced 60% workforce reduction (September 2025) and operational pivot required; strategic survival dependent on US and international traction
Strong historical metrics: 120M+ registered users pre-ban, hundreds of millions monthly tournaments, partnerships with NBA and Pro Kabaddi
Unicorn status (2021, $1.45B–$2.3B valuations) now at risk; company must prove international market viability to preserve investor returns
Named Competitors
Dream11 — Fantasy sports platform for cricket, football, and kabaddi
DraftKings — US-based daily fantasy sports and sports betting platform
FanDuel — Fantasy sports and sports betting operator
Games24x7 — Indian online gaming and rummy platform
Recent Developments
(August 2025) India government bill passed with presidential assent imposing nationwide iGaming ban covering skill-based games with real-money stakes
(September 2025) MPL announced ~60% workforce reduction in response to India regulatory ban
(June 2026) Company operating in reduced capacity; focus shifted to US and international markets
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