Wealthsimple’s new prediction markets app exposes gaps in Canada’s gambling protections

Wealthsimple’s new prediction markets app recently launched, in partnership with Kalshi, an American prediction market platform. It’s only the second firm in the country authorized by Canadian Investment Regulatory Organization (CIRO) to do so, after Interactive Brokers Canada. Prediction markets allow users to trade and invest in real-world outcomes by purchasing a contract tied to the outcome of a real-world event. Users typically place a binary yes-or-no bet on a wide range of events: sports…