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black market

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black market

market in which goods or services are traded illegally

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About black market

A black market is a clandestine market or series of transactions that has some aspect of illegality within a legal jurisdiction; it may also not be compliant with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution are prohibited or restricted by law, non-compliance with the rule constitutes a black-market trade since the transaction itself is illegal. Such transactions include the illegal drug trade, prostitution, illegal currency transactions, and human trafficking.

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Facts from Wikidata (CC0). Image by US military Photograph via Wikimedia Commons (Public domain).

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