New Delhi, May 1 -- F&O was meant for hedging, not hoping, veteran investor Vijay Kedia recently posted on social media. In just a few words, he laid bare a brewing crisis in Indian financial markets - the alarming surge in retail participation in Futures & Options, not as a hedging tool, but as a high-stakes gamble.

With over 90% of retail traders reportedly losing money in F&O, the derivatives segment - designed for risk mitigation - is now beginning to resemble a digital casino.

"F&O was meant for hedging, not hoping - but retail's turning the market into a casino.

Maybe it's time we ask: should access come with a license, not just a login? Over 90% of retail traders lose money in F&O. This isn't risk management - it's just gambling...