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Prediction market trading is gambling according to B.C. regulator
The regulator said prediction markets based on sports or entertainment outcomes are unregulated gambling, and only the PlayNow platform is legal for online betting.
On Aug 28, 2026, the Independent Gambling Control Office declared prediction markets like Kalshi and Polymarket illegal in the province, classifying them as unregulated gambling.
Under existing legislation, products based on sports or entertainment outcomes constitute gambling, permitted solely through the Lottery Corporation's regulated PlayNow platform.
These platforms allow users to trade "event contracts, prediction contracts or prediction market contracts" on outcomes ranging from sports and elections to whether Jesus Christ will return.
The Gambling Control Office issued this clarification after the Canadian Securities Administrators and Canadian Investment Regulatory Organization stated these markets should not be regulated as securities.
Any operator offering sports or entertainment products to residents is operating illegally, a spokesperson noted, emphasizing that such sites remain unauthorized within the jurisdiction.