Hong Kong's Secretary for Home and Youth Affairs, Mak Mei-juan, highlighted the rapid growth of prediction markets, with monthly trading volumes soaring from under $100 million two years ago to over $13 billion last year. Nearly 40% of these transactions are related to sports. In response to the uncertainty surrounding prediction markets, the government plans to conduct research to understand their impact and prevalence in Hong Kong. The government maintains a policy against gambling, classifying sports betting in prediction markets as illegal gambling. Authorities will enhance public education efforts to raise awareness about the dangers of gambling and discourage participation in illegal activities.