Wu said that, according to Hong Kong Radio, Carrie Lam, the Secretary for Home Affairs and Youth, stated that the prediction market has developed rapidly in recent years, with monthly trading volume increasing from less than 100 million USD two years ago to over 13 billion USD last year, with nearly 40% of transactions related to sports.

Regarding the uncertainty of prediction markets, as a responsible government, there is a need to conduct research first to understand the impact of prediction markets and their prevalence in Hong Kong.
The government's consistent policy is not to encourage gambling, and participating in sports betting on prediction markets is considered illegal gambling. The authorities will strengthen publicity and education to make citizens aware of the harms of gambling and to refrain from participating in illegal gambling.