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Sports, Entertainment Prediction Markets Shouldn't Fall to Securities Law: CSA
The guidance limits regulated dealer platforms to economic, financial and climate contracts as Canada’s prediction market debate continues.
- On Thursday, the Canadian Securities Administrators and the Canadian Investment Regulatory Organization announced that sports and entertainment prediction contracts fall outside securities legislation and will not be authorized for investment dealers.
- Currently, CIRO-approved dealers like Wealthsimple Inc. and Interactive Brokers Group Inc. may only offer event contracts tied to economic indicators, financial markets, and climate trends, barring sports or entertainment wagers.
- In the United States, sports contracts accounted for 80 per cent of trading volume on Kalshi between July 2024 and May 2026, while Wealthsimple argued that separating sports outcomes into gaming regulation is "unworkable."
- If Canada wants to allow sports prediction trading, regulators signaled someone else must police it, as the CSA and CIRO clarified they do not consider it appropriate to facilitate dealer applications for such products.
- The regulatory status of other non-entertainment and sports event contracts remains under assessment; meanwhile, U.S. lawmakers introduced the Prediction Markets Are Gambling Act this March, seeking to bar platforms like Kalshi and Polymarket from offering sports contracts.
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9 Articles
9 Articles
The Toronto Star+3 Reposted by 3 other sources
Sports, entertainment prediction markets shouldn’t fall to securities law: CSA
If Canada ever wants to allow entertainment and sports prediction market trading, the country's securities regulators are signalling someone else should have to police it.
·Toronto, Canada
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Winnipeg Free Press+3 Reposted by 3 other sources
Sports, entertainment prediction markets shouldn't fall to securities law: CSA
If Canada ever wants to allow entertainment and sports prediction market trading, the country's securities regulators are signalling someone else should have to police it.
·Winnipeg, Canada
Read Full Article
Coverage Details
Total News Sources9
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
Factuality
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