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What prediction market trading is and why it's gaining popularity
The app will give Canadian retail investors access to nearly 4,000 Kalshi contracts, with sports and election bets excluded under regulator limits.
- On Thursday, Wealthsimple announced it will launch Wealthsimple Predict, an app giving four million Canadian customers access to event contracts through U.S. prediction market Kalshi.
- The Canadian Investment Regulatory Organization approved the offering only for economic, financial, and climate-related events, excluding popular categories like sports, mirroring the model Interactive Brokers Canada Inc. previously received.
- Users will gain access to nearly 4,000 event contracts trading on Kalshi, where simple yes-or-no wagers typically cost less than $1 and function like financial exchanges.
- Psychology professor Andrew Kim of Toronto Metropolitan University said the lack of sports betting reduces gambling allure, though Marius Zoican warns "the whales and the market makers that make money on these platforms" capture most profits.
- While Kalshi and Polymarket processed about $24 billion in global trading volume as of April 2026, Canadians cannot trade on high-profile events like the World Cup or Oscars.
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The service will be able to bet on the outcome of current events by buying the equivalent of futures contracts.
·Montreal, Canada
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Bowen Island Undercurrent+3 Reposted by 3 other sources
What prediction market trading is and why it's gaining popularity
Prediction markets are coming to Wealthsimple — but Canadians won't be able to bet on sports or elections
Canadian retail investors will be able to access prediction markets through a Canadian company this summer, after the platforms had been banned for years. Prediction markets are experiencing explosive growth, and seen as both a financial vehicle and as gambling.
·Canada
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Coverage Details
Total News Sources14
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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