Thakur became president of the Himachal Pradesh Cricket Association in 2000 and led the building of the HPCA Stadium in Dharamshala. He rose through the BCCI as joint secretary and secretary, and became BCCI president in May 2016. In January 2017 the Supreme Court removed him from the post while implementing the Lodha Committee reforms. He later tendered an unconditional apology to the court, which closed the contempt proceedings against him in July 2017.
Thakur first entered the Lok Sabha by winning the Hamirpur by-election in 2008 and was re-elected in 2009, 2014, 2019 and 2024. He served as national president of the Bharatiya Janata Yuva Morcha (BJYM), the party's youth wing. In 2016 he was commissioned as an officer in the Territorial Army.
He became Minister of State for Finance and Corporate Affairs in May 2019. In July 2021 he was promoted to Cabinet rank as Minister of Information & Broadcasting and Minister of Youth Affairs & Sports, holding both portfolios until June 2024. In January 2020 the Election Commission barred him from campaigning for 72 hours over remarks at a Delhi election rally.
In the 2024 general election he defeated Congress candidate Satpal Raizada by 1,82,357 votes, according to Election Commission of India data. He was not included in the new Union Council of Ministers and continues as an MP, speaking for the party in Lok Sabha debates.
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