The Hong Kong government confirmed on Monday that it would suspend its launch of basketball betting.

The Home and Youth Affairs Bureau said in a email statement on Tuesday that legally introducing basketball betting at this time might fuel participation in prediction markets, which has soared in popularity. Betting on sports in prediction markets is considered illegal in Hong Kong, the bureau said.

It added that the trading volume of prediction markets reached US$64 billion in 2025, a threefold increase from the year before.

“Given these latest developments, as a responsible government, it is necessary to conduct a more in-depth study into the operations of these emerging models and platforms,” the bureau’s Chinese-language statement read.

It added that the trading volume of prediction markets reached US$64 billion in 2025, a threefold increase from the year before.

“Given these latest developments, as a responsible government, it is necessary to conduct a more in-depth study into the operations of these emerging models and platforms,” the bureau’s Chinese-language statement read.