PANews reported on April 17th that, according to RTHK, the Hong Kong government has decided to halt the development of a basketball betting project. Secretary for Home Affairs and Youth Affairs, Alice Mak, stated that the "prediction market" has developed rapidly in recent years, with monthly transaction volume increasing from less than US$100 million the year before last to over US$13 billion last year, with nearly 40% of transactions related to sports. The authorities are concerned that launching a new betting project at this time would increase public attention to and even participation in illegal gambling through the "prediction market." Therefore, they believe that further research should be conducted before deciding on the next steps, and the new betting project should be stopped for now. Some legislators stated that the government's decision after careful consideration is understandable.

Mak Mei-kuen stated that existing regulated betting systems have relatively mature monitoring and management systems, allowing for risk control. However, regarding the uncertainties of "prediction markets," as a responsible government, it is necessary to conduct research to understand their impact and prevalence in Hong Kong. She reiterated that the government's consistent policy is to discourage gambling, and betting on sports using "prediction markets" is illegal gambling. The authorities will strengthen public education to make citizens understand the harm of gambling and urge them not to participate in illegal gambling.