black market

/ˌblæk ˌmɑrkət/

/blæk ˈmɑkɪt/

Other forms: black markets

A black market is buying and selling in a way that breaks the rules.

Black markets include trade in illicit goods (like selling illegal drugs). But a business selling perfectly legal items or services without following the rules is also a black market. If your state's laws forbid the sale of unpasteurized dairy products, farmers who sell raw milk are operating a black market. This phrase reached the height of its popularity when food and fuel were rationed during World War II, spurring black markets in goods including meat and gasoline.

Definitions of black market

1. noun

   an illegal market in which goods or currencies are bought and sold in violation of rationing or controls
   type of:

   market, market place, marketplace

   the world of commercial activity where goods and services are bought and sold
2. noun

   people who engage in illicit trade
   type of:

   market

   the customers for a particular product or service
3. verb

   deal in illegally, such as arms or liquor
   synonyms: run

   ply, run

   travel a route regularly

   type of:

   merchandise, trade

   engage in the trade of