The press and social media are questioning the wisdom of the real money gaming ban. Argument No 1 being proffered is that a recent report from the Securities and Exchange Board of India (Sebi) found that 93 per cent of individual traders in the equity futures & options (F&O) segment incurred losses between financial year 2021-22 and 2023-24, with aggregate losses exceeding ₹1.8 trillion over the three years. Only 7.2 per cent of traders made a profit, and just 1 per cent of them earned more than ₹1 lakh in profit after accounting for costs. The study also
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