Hong Kong paused plans to advance basketball betting after officials said prediction market volume climbed above $13 billion a month, with sports-linked trading accounting for nearly 40% of activity.
Hong Kong has stopped advancing a basketball betting proposal as officials review the rapid expansion of prediction markets. According to officials, monthly trading volume on these platforms rose from less than $100 million to more than $13 billion, and nearly 40% of that activity was tied to sports. Authorities said sports betting conducted through prediction markets constitutes illegal gambling in Hong Kong and stated that the government will study the issue before deciding on next steps.