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Hong Kong financial education council warns prediction markets may count as illegal gambling with no investor protection, Public Gaming reports
- Hong Kong financial education council warns prediction markets may count as illegal gambling with no investor protection, Public Gaming reports — Hong Kong's Investor and Financial Education Council, which sits under the Securities and Futures Commission, said platforms like Polymarket and Kalshi could amount to illegal gambling under local rules. It said prediction market contracts do not count as investment products and users get no protection under the Securities and Futures Ordinance. (Public Gaming)
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