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Hong Kong government delays legal basketball betting launch over prediction-market concerns

Regulation

Hong Kong’s government has delayed the planned launch of legal basketball betting, which had been scheduled for September, citing uncertainty around prediction markets. Secretary for Home and Youth Affairs Alice Mak said passing the law did not require licences to be issued on a fixed timetable; the government said it would study the emerging platforms further, with no new launch date announced.

The delay leaves the timing of a proposed legal betting market uncertain for operators and the Hong Kong Jockey Club.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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