Modern Money
Is a tournament entry fee gambling?
No, a tournament entry fee isn't gambling when it pays for running the event; it is gambling when the fees are pooled into the winner's cash prize.
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Modern Money
Interest, mortgages, investing, crypto, insurance and gambling. Short, honest answers for new Muslims.
Modern Money
Is prize money from sports competitions halal?
Yes, prize money from sports competitions is generally halal when an organiser or sponsor pays it; a pot made from players' stakes is gambling.
Modern Money
Is opening Pokemon card packs gambling?
Opening Pokemon card packs is usually not gambling: you get real cards at a fair price. Paid breaks, mystery boxes and chasing hits come close.
Modern Money
Is playing cards haram?
Playing cards for money is haram. Scholars differ on casual card games with no betting; here are both views and the conditions to keep.
Modern Money
Is an overdraft haram?
Is an overdraft haram? Paying overdraft interest is riba. Flat fees are debated, 0% student overdrafts are usually fine. How to avoid it.
Modern Money
Are NFTs haram?
Are NFTs haram? It depends. Buying digital art or a token with real use can be fine; haram images, mystery mints and hype flipping are the problems.
Modern Money
Can I keep stocks I bought before becoming Muslim?
Can I keep stocks I bought before becoming Muslim? Yes, if they pass halal screening. How to sell haram holdings, past gains and taxes when switching.
Modern Money
Is a high-yield savings account haram?
Is a high-yield savings account haram? Yes, its yield is interest (riba). Use a non-interest account or an Islamic profit-sharing account instead.
Modern Money
Are prediction markets like Kalshi haram?
Are prediction markets like Kalshi haram? Yes. Event contracts on Kalshi or Polymarket are bets on outcomes, which Islam forbids as gambling (maysir).
Modern Money
Is Islamic car finance halal?
Is Islamic car finance halal? Genuine Islamic HP and PCP use murabaha or ijara instead of interest. Learn the red flags behind the 'Islamic' label.
Modern Money
Is a 401(k) halal?
Is a 401(k) halal? Yes, if you pick halal funds inside it. Take the employer match, but avoid bond and stable-value funds and 401(k) loans.
Modern Money
Is car insurance haram?
Is car insurance haram? No, legally required cover is allowed out of need. Third-party vs comprehensive, takaful options and how to avoid interest.
