The prediction market phenomenon is creeping north to Canada.
Toronto-based Wealthsimple announced its new “Wealthsimple Predict” platform Thursday, which will allow for the trading of event contracts via a partnership with U.S. prediction market operator Kalshi.
- Wealthsimple is launching Wealthsimple Predict in Canada in partnership with Kalshi, giving Canadians access to the latter's prediction markets.
- Canadian regulators limit these markets to areas such as climate, financial markets, and economic indicators, excluding the sports and election contracts that are so popular in the U.S.
- Kalshi's entry could help expand the popularity of prediction markets in Canada despite a more restrictive regulatory environment than in the United States.
Just don’t expect the same kind of prediction markets that have sprung up in the States (at least not yet).
As the two companies highlighted on Thursday, Canadian operators are subject to stricter limits on what they can offer: namely, no sports or elections.
“The standalone application is scheduled to launch this summer,” a press release said. “Through the app, users will have access to approximately 4,000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.”
Limited menu
While it faces certain restrictions, Kalshi’s foray into Canada via Wealthsimple could be a significant moment for prediction markets in the country.
Those exchanges have either been based offshore or have had a relatively limited presence and popularity in Canada. Indeed, a boom of locally regulated prediction markets has yet to play out in Canada as it has in the U.S.
Polymarket, notably, was sanctioned by Ontario regulators in 2025 and barred from the province for two years. Yet Kalshi’s arrival could give Canadian prediction markets a serious boost.
“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds,” Brett Huneycutt, co-founder and chief product officer for Wealthsimple, said in a release. “Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one.”
Wealthsimple, an online financial services company, was only recently given the green light by Canadian regulators to dabble in prediction markets. And, again, the types of contracts available for trading are much more limited than what’s available in the U.S., with the focus on economics, financial markets, and climate.
Press release: Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada
— Geoff Zochodne (@GeoffZochodne) June 18, 2026
"...specifically climate, financial markets, and economic indicators." pic.twitter.com/1kzKfGAjV3
Canada’s regulatory climate may not be as conducive to a prediction market boom as the U.S. either.
The sale of short-term "binary options" is forbidden. And there is no single regulator, like the U.S. Commodity Futures Trading Commission, that can single-handedly authorize a nationwide form of trading. Instead, there are several provincial regulators and a self-regulatory body.
Canadians also have broad access to online sportsbooks, whether via a competitive, regulated market like that in Ontario or by using "grey" operators elsewhere. Moreover, the event contracts authorized for trading thus far suggest the local watchdogs are conscious about allowing too freewheeling an environment.
Still, Kalshi has become a leader in prediction markets in the U.S., where numerous legal battles over sports-related event contracts are ongoing. Its arrival in Canada could be a watershed moment.
“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone,” Kalshi chief of staff Alex Cuoci said in the release. “That's why we're partnering with Wealthsimple, Canada's leading financial innovator - to give everyday investors in Canada access to fair, secure, and regulated prediction markets.”
More to come.
