Regulatory Blind Spots of Gharar in Platform-Based Economic Transactions: An Islamic Economic Law Perspective

Abstract

The rapid expansion of platform-based economic transactions has transformed contemporary commercial practices while simultaneously generating new regulatory and ethical challenges. One of the most pressing concerns is the persistence of gharar arising from information asymmetry, opaque pricing mechanisms, and misleading product representations that are inadequately addressed by existing regulatory frameworks. This condition creates academic anxiety regarding the effectiveness of current consumer protection regimes in safeguarding transactional fairness and informed consent. This study aims to examine the regulatory blind spots surrounding gharar in digital marketplaces from the perspective of Islamic Economic Law. Employing a normative juridical method, the research analyzes classical Islamic legal doctrines on gharar and tadlis alongside contemporary legal instruments and regulatory practices governing digital commerce. The findings reveal that platform-based transactions institutionalize uncertainty through algorithmic mediation, standardized yet opaque contractual terms, and weak verification of product claims, thereby impairing genuine consumer consent (ridha). While positive law tends to address harm reactively, Islamic Economic Law offers a preventive and ethically grounded framework that obligates transparency, truthfulness, and moral accountability for all market actors, including platform operators. The study concludes that integrating Islamic ethical principles into digital marketplace governance can address regulatory gaps and promote justice, trust, and sustainability in the digital economy.