Canada · Guides
Guides: prediction markets in Canada
What to know before you trade an event contract in Canada: which platforms are legal, what you can and can’t trade, what it costs in Canadian dollars, how gains are taxed and where to get help.
Prediction markets
Guide · 6 min
Are prediction markets legal in Canada? Yes, within narrow limits. Event contracts are derivatives in Canada, and as of October 22, 2026, only two CIRO-regulated dealers may offer them: Interactive Brokers Canada and Wealthsimple. They're limited to economic, environmental and financial indicator contracts with at least 30 days to maturity and no leverage. Sports, entertainment, election and political contracts aren't allowed, and no prediction market itself is registered in Canada, so platforms like Polymarket can't legally serve Canadians. Read Guide · 4 min
Is Polymarket legal in Canada? No. Polymarket isn't registered with any Canadian securities regulator, so it can't legally offer event contracts to Canadians. It must keep Ontario residents out under an April 2025 settlement with the Ontario Securities Commission, and by early July 2026 it had also blocked Alberta, British Columbia and Quebec. Elsewhere the site loads, but it's still unregistered; the legal alternatives are Interactive Brokers and Wealthsimple Predict. Read Guide · 3 min
Is Kalshi available in Canada? Not on Kalshi itself: Kalshi's member agreement lists Canada as a restricted jurisdiction where members may not trade event contracts. But Canadians can trade a subset of Kalshi's contracts, the economic, financial and climate ones, through Wealthsimple Predict, which sends every order to Kalshi, and through Interactive Brokers, which lists some Kalshi markets. Sports, elections and contracts listed for less than 30 days aren't available. Read Guide · 4 min
How prediction markets work in Canada A prediction market sells yes/no event contracts that cost between US$0.01 and US$0.99 and pay US$1 if the event happens, so the price reads as a probability. In Canada you can only trade them through two CIRO dealers, Interactive Brokers and Wealthsimple, and only on economic, financial and climate outcomes, with contracts listed at least 30 days before they mature. Read Guide · 3 min
Prediction market fees in Canada Trading prediction markets in Canada costs a fee per contract plus the conversion from Canadian to US dollars. Wealthsimple Predict charges US$0.02 per contract on every buy and sell and 1.5% on conversions under $10,000; Interactive Brokers charges US$0.01 per contract on ForecastEx, US$0.02 on Kalshi markets, and 0.2 basis points per conversion with a US$2 minimum. Which is cheaper depends on how much you convert at a time. Read Guide · 4 min
Are prediction markets safe in Canada? The two dealers allowed to offer event contracts in Canada, Interactive Brokers and Wealthsimple, are regulated by CIRO, covered by the Canadian Investor Protection Fund and answer to the OBSI ombudsman. Unregistered platforms such as Polymarket offer none of that. Check any platform in the CSA's registration search and CIRO's dealer directory, avoid sites offering Canadians sports or election contracts, and remember that even a safe platform can't stop you losing your stake. Read Methodology · 4 min
How we rank prediction markets in Canada We only rank platforms that Canadians can legally use: investment dealers regulated by CIRO that the securities regulators have allowed to offer event contracts. As of October 22, 2026, that's two, Interactive Brokers Canada and Wealthsimple. Each is scored from 0 to 10 on six weighted criteria, and the ranking follows the overall scores. Read
Free tool
Prediction market legit check (Canada) Type a platform’s name or web address to see whether it may legally offer event contracts to Canadians, what changes by province, and how to check it yourself in the regulators’ own databases. Open
Free tool
Prediction market fee calculator (Canada) Enter a contract’s price and how many you’re buying to see the all-in cost in Canadian dollars at Wealthsimple Predict and Interactive Brokers, currency conversion included, and the chance you need to be right to break even. Open
Taxes, safety & more
Guide · 5 min
How prediction market gains are taxed in Canada The Canada Revenue Agency hasn't published guidance on prediction markets. Unlike casual gambling winnings, which aren't taxed, gains on event contracts traded through a dealer are generally treated as capital gains, half of which is taxable in 2026, or as fully taxable business income if you trade often or professionally. Report them in Canadian dollars at the Bank of Canada rate on each transaction date, and keep your own records. Read Guide · 3 min
Where to get help for gambling problems in Canada In a crisis, call or text 988, Canada's suicide crisis helpline, any time. For gambling problems, most provinces run a free, confidential helpline open 24/7, such as BC's Gambling Support Line (1-888-795-6111), ConnexOntario (1-866-531-2600) and Quebec's Jeu : aide et référence (1-800-461-0140); the territories and Nova Scotia route gambling through their health and crisis lines. Every province also runs a self-exclusion program, but none covers prediction-market apps. Read
