Dream11 co-founder and CEO Harsh Jain announced plans to launch a redesigned version of the fantasy sports platform by the end of 2026. Jain stated in a social media post that the new product will be built by and for sports fans.
Jain did not provide details regarding the platform’s features, specific launch date, or business model. The announcement follows a period of significant regulatory and operational changes for the company.
Regulatory Challenges and Strategic Pivot
The company’s business model shifted following the passage of the Promotion and Regulation of Online Gaming Bill in 2025. The legislation prohibited online real-money gaming and restricted associated advertising. Consequently, Dream11 discontinued its paid contests and transitioned to a watch-along service where users follow gameplay from content creators.
Parent company Dream Sports has attempted to diversify operations over the past year. It entered the wealth technology sector with Dream Money, offering mutual funds and digital gold, and expanded into stockbroking with DreamStreet. However, the company has recently scaled back these initiatives. Dream Sports closed Dream Money in June, shut down the sports merchandise business under FanCode, and discontinued its AI-powered sports performance analytics app, Dream Play.
Current Operations and Financial Context
Despite recent closures, Dream Sports maintains several active business lines. FanCode continues to function as a sports streaming platform, and DreamCricket remains part of its gaming portfolio.
The company also faces ongoing financial and legal challenges. Earlier this year, the Supreme Court upheld a decision allowing tax authorities to impose a 28% retrospective Goods and Services Tax (GST) on real-money online gaming companies. The tax is calculated based on the full face value of bets placed on these platforms. Reports indicate Dream Sports faces GST liabilities exceeding ₹20,000 crore.