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Hong Kong Securities and Futures Commission's Investment Committee: Trading activities in prediction markets may constitute illegal gambling
Deep Tide TechFlow News, April 18th, according to Hong Kong media Now Finance, the Hong Kong Securities and Futures Commission’s Investor and Financial Education Committee stated that predicted market trading activities or contracts are not investment products. Public participation in predicted market trading activities is not protected by any regulations. If problems arise, it may be difficult to recover losses, or there may be no way to pursue accountability. The committee pointed out that the predicted market is a speculative market created for the purpose of making predictions. It allows participants to bet on the outcome of a specific future event, with elements of gambling. Currently, trading activities in Hong Kong’s predicted market may constitute illegal gambling.
The Hong Kong Investor Committee stated that investment is not simply betting on a probability. Whether it is stocks and bonds of listed companies, or precious metals, real estate, collectibles, virtual assets, etc., whether to invest depends on the value and potential of the assets themselves. The public should reflect on the nature of investment and distinguish between investment and gambling.