TLDR Canadian prediction markets are limited to three contract types: economic indicators, financial markets, and climate trends — no sports or elections allowed A 2017 ban on binary options with maturities under 30 days blocks the short-term contracts popular on US platforms like Kalshi and Polymarket Wealthsimple recently gained approval for forecast contracts, joining Interactive Brokers as only the second regulated platform in Canada Polymarket was barred from Ontario after a 2025 settlement, but promotional flyers were reportedly handed out at Toronto Blue Jays games Vancouver Prediction Exchange is seeking regulatory approval in British Columbia to build a Canadian-owned prediction market platform
The prediction market boom sweeping the United States has not crossed the border into Canada. Tight regulations and a fragmented provincial system have kept the industry largely locked out.
Right now, Canadians have just one regulated platform for wagering on real-world events: Interactive Brokers’ Forecast Trader. Wealthsimple recently received approval to offer forecast contracts, making it the second. Questrade has signaled it also plans to enter the space but is still waiting on regulatory clearance.
Even with all three platforms running, the Canadian market will look nothing like the US version. Canadian law restricts operators to contracts tied to economic indicators, financial markets, and climate trends. Sports, elections, and cultural events are off the table.
Werner Antweiler, an associate professor at UBC’s Sauder School of Business, said the scope is very limited. Antweiler ran an experimental prediction market at Sauder for over 20 years.
“They’re not allowed for events such as elections, cultural and social events, or sports events,” Antweiler told Gambling Insider.
A key barrier is Canada’s 2017 ban on binary options with a maturity of fewer than 30 days. The Canadian Securities Administrators imposed the ban over concerns about fraud and investor risk.