Is TRUG halal?
TruGolf Holdings, Inc.
Doubtful
No clear verdict is possible for TruGolf Holdings, Inc. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
NASDAQ
Price
1.12
Day
-17.65%
Market cap
$2.0M
Industry
Electronic Gaming & Multimedia
Sector
Communication Services
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: TruGolf Links franchise venues with a full bar (cocktails/wine/beer) and 'gaming machines'; royalty share not yet measurable
What the company does
TruGolf makes golf simulators (home and commercial), E6 software and the Apogee launch monitor, plus the TruGolf Links franchise — indoor golf venues with bars and gaming machines (from 2026). Its money comes from simulator sales, software subscriptions and franchising.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: TruGolf Links franchise venues with a full bar (cocktails/wine/beer) and 'gaming machines'; royalty share not yet measurable
Interest-bearing debt / market cap
limit 30%
176.3%
Fail
Cash & investments / market cap
limit 30%
324.6%
Fail
Non-compliant income / total revenue
limit 5%
1.4%
Pass
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.