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Does Wealthsimple want to add sports, politics to its new prediction markets product?
The new app lets users wager $1 or less on economic and climate outcomes while revealing interest in sports and politics markets.
- Wealthsimple launched prediction markets last month featuring stakes on James Bond casting and the 2028 U.S. presidential election, though Canadian regulators prohibit betting on entertainment, sports, and politics.
- Sports and politics made up 91 per cent of trading volume on Kalshi and 90 per cent on Polymarket between July 2024 and May 2026, explaining why Wealthsimple pursued prediction markets despite regulatory barriers.
- University of Toronto associate professor Charles Martineau predicted Wealthsimple will gather consumer interest data through view-only displays to lobby regulators, noting it could convert prediction market users into broader investors.
- The Canadian Securities Administrators warned Canadians to avoid unregistered platforms, as CIRO declined to explain its restrictions while signaling continued regulatory monitoring of prediction market developments.
- Wealthsimple spokesperson Victoria Belton said the company is focused on current markets 'for now,' though it recently released a whitepaper proposing how sports prediction regulations could work in Canada.
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The Toronto Star+13 Reposted by 13 other sources
Does Wealthsimple want to add sports, politics to its new prediction markets product?
TORONTO - Wealthsimple’s newest product has given armchair economists and Canadians convinced they can predict Mother Nature a chance to put their skills to the test, but some say the business is likely after an even bigger audience.
·Toronto, Canada
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Does Wealthsimple want to add sports, politics to its prediction markets app?
Wealthsimple’s newest product has given armchair economists and Canadians convinced they can predict Mother Nature a chance to put their skills to the test, but some say the business is likely after an even bigger audience. The Toronto-based financial services company started offering prediction markets last month. The product lets customers make wagers of $1 or less on the outcome of economic, financial or climate matters like what will happen…
Coverage Details
Total News Sources15
Leaning Left6Leaning Right0Center5Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 45%
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