The contest takes place less than a year before the Scottish parliament election, with the result potentially offering a snapshot of how the political landscape north of the border will look in 2026.
Campaigning has been heated, with Reform UK accused of running a “racist” ad on Facebook against Scottish Labour leader Anas Sarwar.
Reform UK leader Nigel Farage has continued to double down, accusing his rival of “sectarian politics”.
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In response, the Scottish Labour MSP has branded Mr Farage a “poisonous little man” and “chief clown”, while SNP leader and First Minister John Swinney said: “He poses a threat to our values and must be stopped.”
But who will come out on top following Thursday’s vote?
Here are the candidates vying for support:
Collette Bradley, Scottish Socialist Party
Image: Collette Bradley, Scottish Socialist Party. Pic: Scottish Socialist Party
Scottish Socialist Party candidate Collette Bradley told Sky News that locals she has met while out campaigning have been angry about “poverty, inequality and Labour’s attacks on welfare, our NHS and services”.
She added: “They have little faith in Labour or the SNP delivering change.
“We’ve offered hope with our unique policy of a socialist MSP who’ll remain on the average worker’s wage, keeping us firmly in step with constituents’ living conditions – we alone reject the corrupting influence of the £75,000 MSP salary.
“We’re offering concrete socialist alternatives to the miserable status quo – redistribution of wealth from the millionaires to the millions via progressive taxation.”
Ms Bradley said the party stands for a society built around the “needs of people, not profit”.
She added: “Ordinary lives can be transformed with measures like a £15-an-hour minimum wage; free public transport; and investment in jobs, wages, quality council housing, NHS, education, welfare and pensions.
“We urge voters to reject the continued failure of the political mainstream and be bolder in their demands by voting Scottish Socialist.”
Andy Brady, Scottish Family Party
Image: Andy Brady, Scottish Family Party. Pic: Scottish Family Party
Candidate Andy Brady told Sky News that Scottish Family Party policies and principles are “built upon honesty, integrity and a passion to see real change in our nation”.
He said: “My time spent speaking to the locals over the past several weeks has revealed a common response – people are fed up being let down.”
Mr Brady said there had been “failed promises” to help local businesses, to repair the roads, and to bring life to the town centres and high streets.
He said: “The general feeling is that communities are feeling jaded and frustrated.”
Urging voters to back the Scottish Family Party, he added: “We value the families, businesses and the education of our local communities and if we can support them, communities will flourish.”
Ross Lambie, Reform UK
Image: Ross Lambie, Reform UK. Pic: Reform UK
South Lanarkshire councillor Ross Lambie is hoping to bring Reform UK’s “turquoise tide” to Scotland.
If Mr Farage’s party wins, it will put Scotland’s first minister on notice ahead of Holyrood 2026.
Mr Lambie, who defected from the Scottish Conservatives, told Sky News: “It’s been refreshing spending the past five or so weeks out on the doors in Hamilton, Larkhall and Stonehouse.
“What’s been very clear is that people everywhere are fed up, angry and scunnered with the entire Scottish political establishment.
“They’re fed up with SNP, Tory and Labour lies and are looking for hope.
“Reform UK is offering people a chance of real and radical change by cutting tax, scrapping net zero, ending wokery and fighting for common sense.
“This is now a clear fight between the SNP and Reform – it’s that simple.”
Katy Loudon, Scottish National Party
Image: Katy Loudon, Scottish National Party. Pic: SNP
South Lanarkshire councillor Katy Loudon is hoping to retain the seat for the SNP.
The former teacher told Sky News she had been speaking to people across the region “about what matters to them”.
She said: “People understandably feel let down by Labour.”
Scottish Labour-run South Lanarkshire Council also intends to reduce its school transport provision, which Ms Loudon said will affect thousands of children.
Image: Ms Loudon and SNP leader John Swinney on the campaign trail in Hamilton. Pic: PA
She added: “The Labour Party has lost its way, Farage is on the rise as a result. With an invisible candidate, they’ve totally given up in this by-election.
“Meanwhile, the SNP is focusing on what matters to people and taking action to make things better – with record investment in our NHS, bringing back the winter fuel payment, scrapping peak rail fares and ending Labour’s two-child cap.
“Labour know they can’t win. Only the SNP can beat Farage on 5 June.”
Janice MacKay, UK Independence Party
Image: Janice MacKay, UK Independence Party. Pic: UKIP
UKIP candidate Janice MacKay told Sky News that her party would abolish the Scottish parliament if given the opportunity.
Speaking of “widespread disillusionment” amongst voters, she added: “UKIP offer something different.
“We wish to radically reduce the number of inadequate politicians in Scotland by abolishing altogether the Holyrood parliament.
“It is merely a glorified and expensive form of local authority. To that end, it is unnecessary.”
Ms MacKay believes the nation’s 32 local authorities should be given “strengthened powers”, with Westminster making the “main decisions” affecting the UK.
Ms MacKay added: “Were UKIP to win any seats in the Holyrood talking shop, we should donate 40% of our MSP salary to a Scottish veterans charity.”
Ann McGuinness, Scottish Green Party
Image: Ann McGuinness, Scottish Green Party. Pic: Scottish Green Party
Scottish Green Party candidate Ann McGuinness is the director of a charity which promotes rural connections and champions rural diversity.
The mother-of-two says her own lived experiences of poverty and disability provide her with “valuable insight” into the challenges faced by many whose voices are often unheard in the public discourse.
She has been described by her party as a “dedicated feminist and environmental justice campaigner”.
As well as promoting climate education, Ms McGuinness is also said to have a “strong track record of working across party lines to support women in politics”.
Ms McGuinness said: “Every vote for the Scottish Greens will be a positive vote for a fairer and greener Scotland and a brighter future for Hamilton, Larkhall and Stonehouse.
“If we are to build a truly just and green future, we need to empower every town and village and ensure that no one is left behind.”
Aisha Mir, Scottish Liberal Democrats
Image: Aisha Mir, Scottish Liberal Democrats. Pic: Scottish Liberal Democrats
Scottish Liberal Democrats candidate Aisha Mir told Sky News she has entered politics to “get things done”.
She added: “For too many people, it feels like nothing works anymore.
“The SNP have failed Scotland for 18 years. The Conservatives are lurching to extremes. Labour are already letting people down. Reform have no real solutions.
“I want to be a hard-working local champion who will put your priorities first.”
Ms Mir said her party offers a vision of Scotland “that is back to its best”.
She added: “A Scotland where people can see a GP and an NHS dentist in good time. A Scotland that once again gives our children a world-class education.
“A Scotland with a growing economy and growing businesses, where the government looks after your money and works with our neighbours.
“Vote Scottish Liberal Democrats for a candidate who is focused on what really matters to you.”
Richard Nelson, Scottish Conservative and Unionist Party
Image: Richard Nelson, Scottish Conservative and Unionist Party. Pic: Scottish Conservatives
Scottish Conservatives candidate Richard Nelson told Sky News he got into politics “to make a difference”.
The South Lanarkshire councillor and NHS worker said: “People across this constituency want politicians to be focused on what really matters to them rather than left-wing politicians focusing on their fringe obsessions.”
Image: Mr Nelson with Scottish Tory leader Russell Findlay. Pic: Scottish Conservatives
Mr Nelson said he has seen “first-hand as an NHS employee the damage the SNP have done to the health service during their 18 years in power”.
He added: “My wife disgracefully had to spend 50 hours on a trolley in A&E recently due to the SNP’s neglect of frontline care.
“If people in Hamilton, Larkhall and Stonehouse want to have an MSP who will stand up for those who just want politicians to show some common sense for a change, then you should vote for myself and the Scottish Conservatives on Thursday.”
Davy Russell, Scottish Labour Party
Image: Davy Russell, Scottish Labour Party. Pic: Scottish Labour Party
Scottish Labour candidate Davy Russell told Sky News he has seen “first-hand the damage the SNP has done” to the community after almost two decades in power.
He said: “Throughout this campaign, I have been speaking to people who are feeling abandoned by this SNP government.
“People are languishing on long NHS waiting lists, worried about the state of our schools, and sick of seeing our high streets decline – but this is not as good as it gets.
“The SNP don’t deserve to win here, and the divisive politics of Reform cannot win. This by-election is a straight choice between more of the same SNP failure or a new direction with Scottish Labour.”
Image: Scottish Labour leader Anas Sarwar, left, with Mr Russell. Pic: PA
Mr Russell vowed to “fight tirelessly for the community I love” if he wins.
He added: “I will stand firmly against the downgrading of the Wishaw Neonatal Unit, campaign for an end to SNP cuts to our local services, and demand real action to tackle the crisis in our NHS.
“This is a chance to not only select a local champion for Hamilton, Larkhall and Stonehouse, but to begin to chart a new direction for the whole of Scotland.”
Marc Wilkinson, Independent
Image: Marc Wilkinson, Independent. Pic: Marc Wilkinson
Marc Wilkinson, a pizza shop owner from the Scottish capital, is the leader of the Edinburgh People party.
The businessman is also behind the South Scotland People party, which is part of a bid to establish regional parties across the nation for the Holyrood list vote next year.
Mr Wilkinson’s aim is for “the people of Scotland to choose to vote for themselves”.
Pledging to take instruction directly from the constituents if he were to win the upcoming by-election, he added: “Elect me and you will be my boss. Don’t choose protest. Choose progress.”
Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair.
The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.
Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X:
“If this comes true & Hassett does become Fed chairman, anti-#crypto people at the Fed who still hold positions of power will finally be out (well, most of them anyway). BIG changes will be coming to the Fed.”
Hassett is a long-time Republican policy economist who returned to Washington as Trump’s top economic adviser and has now emerged as the market-implied frontrunner to lead the Fed.
His financial disclosure reveals at least a seven‑figure Coinbase stake and compensation for serving on the exchange’s Academic and Regulatory Advisory Council, placing him unusually close to the crypto industry for a potential Fed chair.
Still, crypto has been burned before by reading too much into “crypto‑literate” resumes. Gary Gensler arrived at the Securities and Exchange Commission with MIT blockchain courses under his belt, but went on to preside over a wave of high‑profile enforcement actions, some of which critics branded as “Operation Chokepoint 2.0.”
A Hassett-led Fed might be more open to experimentation and less reflexively hostile to bank‑crypto activity. Still, the institution’s mandate on financial stability means markets should not assume a one‑way bet on deregulation.
The Hassett odds have jumped just as the Fed’s own approach to bank supervision has received pushback from veterans like Fed Governor Michael Barr, who earned his reputation as one of Operation Chokepoint 2.0’s key architects.
According to Caitlin Long, while he Barr “was Vice Chairman of Supervision & Regulation he did Warren’s bidding,” and he “has made it clear he will oppose changes made by Trump & his appointees.”
On Nov. 18, the Fed released new Supervisory Operating Principles that shift examiners toward a “risk‑first” framework, directing staff to focus on material safety‑and‑soundness risks rather than procedural or documentation issues.
In a speech the same day, Barr warned that narrowing oversight, weakening ratings frameworks and making it harder to issue enforcement actions or matters requiring attention could leave supervisors slower to act on emerging risks, arguing that gutting those tools may repeat pre‑crisis mistakes.
Days later, in Consumer Affairs Letter 25‑1, the Fed clarified that the new Supervisory Operating Principles do not apply to its Consumer Affairs supervision program (an area under Barr’s committee as a governor).
If prediction markets are right and a crypto‑friendly Hassett inherits this landscape, his Fed would not be writing on a blank slate but stepping into an institution already mid‑pivot on how hard (and where) it leans on banks.
HashKey Holdings, the parent company of one of Hong Kong’s biggest licensed crypto exchanges, moved a step closer to a public listing, according to new filings from the Hong Kong Stock Exchange (HKEX).
On Monday, the HKEX published a 633-page post-hearing information pack for HashKey Holdings. The document was published at the request of The Stock Exchange of Hong Kong Limited and the local financial regulator, the Securities and Futures Commission (SFC).
A post-hearing information pack is only published after HKEX’s listing committee formally clears an applicant at the listing hearing. In other words, without explicitly stating it, this document indicates that HashKey has moved closer to listing on the exchange and is progressing toward its initial public offering (IPO).
At the same time, the document stressed that the deal is not yet finalized. “The listing application referred to in this document has not yet been approved; the HKEX and the SFC may accept, return, or reject the public offering and/or listing application.”
This is standard HKEX disclaimer language and does not contradict HashKey’s approval. Instead, it refers to the listing being dependent on completing the offering documents.
Hong Kong Exchange trade lobby in 2007. Source: Wikimedia
HashKey’s IPO is likely to attract significant attention
The news follows early October reports that HashKey was aiming for an IPO and a listing in Hong Kong this year. At the time, the report was largely based on rumors, citing anonymous sources with purported knowledge of the matter.
HashKey is Hong Kong’s top crypto exchange with a 24-hour volume of nearly $108 million at the time of writing, according to CoinGecko data. The information pack also listed the world’s top bank, JPMorgan, and local financial institutions Guotai Junan International and Haitong International as joint sponsors for the listing.
Interest in the offering is likely high, considering that in mid-February, China-based Gaorong Ventures reportedly invested $30 million in HashKey, granting it unicorn status. The pre-money valuation of the investment was purportedly almost $1.5 billion, but reports cited unidentified sources that could not be independently verified.
This was followed by reports in late October that Chinese technology giants, including Ant Group and JD.com, had reportedly suspended plans to issue stablecoins in Hong Kong due to regulatory concerns. On Saturday, the People’s Bank of China — mainland China’s central bank — said after a meeting with 12 other agencies that “virtual currency speculation has resurfaced,” reiterating that “virtual currency-related business activities constitute illegal financial activities,” in line with its 2021 ban on crypto trading and mining.
Sony Bank, the online lending subsidiary of Sony Financial Group, is reportedly preparing to launch a stablecoin that will enable payments across the Sony ecosystem in the US.
Sony is planning to issue a US dollar-pegged stablecoin in 2026 and expects it to be used for purchases of PlayStation games, subscriptions and anime content, Nikkei reported on Monday.
Targeting US customers — who make up roughly 30% of Sony Group’s external sales — the stablecoin is expected to work alongside existing payment options such as credit cards, helping reduce fees paid to card networks, the report said.
Sony Bank applied in October for a banking license in the US to establish a stablecoin-focused subsidiary and has partnered with the US stablecoin issuer Bastion. Sony’s venture arm also joined Bastion’s $14.6 million raise, led by Coinbase Ventures.
Sony Bank has been actively venturing into Web3
Sony Bank’s stablecoin push in the US comes amid the company’s active venture into Web3, with the bank establishing a dedicated Web3 subsidiary in June.
“Digital assets utilizing blockchain technology are incorporated into a diverse range of services and business models,” Sony Bank said in a statement in May.
“Financial services, such as wallets, which store NFT (non-fungible tokens) and cryptocurrency assets, and crypto exchange providers are becoming increasingly important,” it added.
Sony Bank established a Web3 subsidiary with an initial capital of 300 million yen ($1.9 million) in June 2025. Source: Sony Bank
The Web3 unit, later named BlockBloom, aims to build an ecosystem that blends fans, artists, NFTs, digital and physical experiences, and both fiat and digital currencies.
Sony Bank’s stablecoin initiative follows the recent spin-off of its parent, Sony Financial Group, which was separated from Sony Group and listed on the Tokyo Stock Exchange in September.
The move was intended to decouple the financial arm’s balance sheet and operations from the broader Sony conglomerate, allowing each to sharpen its strategic focus.
Cointelegraph reached out to Sony Bank for comment regarding its potential US stablecoin launch, but had not received a response by the time of publication.