Published on: June 18, 2026, at 11:31 AM.

Last revised on: June 18, 2026, at 11:31 AM.

• Wealthsimple teams up with Kalshi to introduce Wealthsimple Predict this summer, opening regulated prediction markets for Canadians.

• The platform will host roughly 4,000 event contracts related to economic, financial, and climate outcomes.

• While sports and political contracts are excluded, the launch could ignite wider discussions on prediction markets in Canada.

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Wealthsimple, a leading Canadian fintech firm, has partnered with Kalshi to unveil a new prediction market tailored for Canadians, set to debut this summer, as announced by both companies this morning.

Emergence of a New Market in Canada

Dubbed Wealthsimple Predict, this innovative application will empower retail investors to trade around 4,000 event-focused contracts on Kalshi.

Crucially, these contracts will fall within categories that Wealthsimple is permitted to provide in Canada, meaning sports and political event contracts are off the table, while climate, financial markets, and economic indicators are included.

Exclusion of Sporting Markets

“Prediction markets represent the rapidly expanding sector of global finance, allowing traders to turn their insights into actionable positions on influential factors like inflation trends and rate movements,” stated Brett Huneycutt, Co-founder and Chief Product Officer at Wealthsimple.

“Previously, Canadians had restricted access to these markets. Wealthsimple Predict is designed to offer Canadians an accessible and streamlined entry point into these opportunities, complete with built-in education and safeguards from day one.”

Approval from CIRO Obtained

The Canadian Investment Regulatory Organization (CIRO) granted Wealthsimple the green light to facilitate trading of event and forecast contracts in March.

These contracts will be categorized as regulated futures or derivatives, with CIRO’s approval specifically covering those with a settlement period of 30 days or longer within the authorized categories.

In an announcement made following Wealthsimple’s reveal in March, CIRO and the Canadian Securities Administrators (CSA) emphasized:

“Noncompliance with relevant Canadian securities and derivatives laws may result in enforcement actions.”

Potential for Enforcement Actions

The CSA functions as an overarching body that brings together provincial and territorial regulators to align rules across Canada’s capital markets.

CIRO operates as the national self-regulatory organization overseeing investment dealers, mutual fund dealers, and trading on Canadian debt and equity markets.

Interactive Brokers Canada Inc. is currently the only other CIRO member authorized to facilitate trading in event contracts.

Kalshi’s Expertise in the Field

Kalshi functions in the U.S. as an authorized exchange for event contracts, possessing federal approval from the Commodity Futures Trading Commission (CFTC).

The ramifications of today’s news on the evolution of prediction markets in Canada remain to be seen.

A notable competitor of Kalshi, Polymarket, faced a ban in Ontario following an agreement with the Ontario Securities Commission in 2025, a restriction that continues until 2027.

Legal Developments in the U.S.

In the U.S., a pivotal legal dispute in various states involves whether federal derivative laws take precedence over state gaming laws, thereby exempting CFTC-registered prediction market platforms from those regulations.

In Canada, there is no federal entity claiming exclusive jurisdiction over event contracts, noted lawyer Evan Thomas, highlighting that both securities and gaming regulations are managed at the provincial level, thus eliminating the pre-emption argument.

“The crucial consideration is whether regulators and policymakers in Ontario and Alberta will support the idea of prediction markets encompassing sports,” he commented.

The Outlook for Prediction Markets

Addressing this would entail significant hurdles, he added, emphasizing the need for all parties to agree on the legality of prediction markets under the current Criminal Code and existing igaming frameworks. There may be a need for statutory or regulatory changes at either the federal or provincial level.

“If Ontario and Alberta’s regulators and policymakers were to consider it, there is potential for a prediction market platform to operate as a registered igaming entity,” he explained.

“The demand for sports event contracts in Canada is undeniably present; prediction markets can offer superior pricing and a more equitable structure compared to traditional sportsbooks. Banning a regulated alternative only drives Canadians toward unregulated options, which could be detrimental to their interests.”