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Why governments beyond Hong Kong are wary of prediction markets

After winning legislative backing for the Hong Kong Jockey Club to offer basketball betting – an initiative aimed at drawing punters away from illegal online bookmakers and capturing additional tax revenue – the government has now paused the roll-out. Officials say the rise of pr

First seen · 1:30 AM UTCMay 1, 2026

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South China Morning Post
CenterAlibaba Group
Why governments beyond Hong Kong are wary of prediction marketsAfter winning legislative backing for the Hong Kong Jockey Club to offer basketball betting – an initiative aimed at drawing punters away from illegal online bookmakers and capturing additional tax revenue – the government has now paused the roll-out. Officials say the rise of pr
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