Prediction markets: Hong Kong ban alone will not solve risks, legal experts say

Prediction markets occupy a grey area under Hong Kong’s gambling laws, with experts warning that the increasingly popular betting platforms could pose risks related to market manipulation and consumer protection. Lawyers and a legislator said that while a ban could restrict access to these largely unregulated betting platforms, authorities would face challenges in gathering evidence and prosecuting cases. “If there were such a ban, we foresee there would be practical challenges for the...