Why did Hainan stop horse racing?

Hainan stopped horse racing in the past to prevent many companies from maliciously registering and other speculations, and also to prevent hot money from colluding with enterprises to disrupt the market. According to relevant information, the government strongly supports the development of horse racing and other industries, and there are still many places to explore for the development route and model. In order to stabilize and maintain the market order, prevent many enterprises from malicious registration and other speculative behaviors, and prevent hot money from colluding with enterprises to disrupt the market, horse racing was stopped that year.