# The best prediction markets in Canada (2026)

> Interactive Brokers is the best prediction market in Canada in 2026 for traders 21 and older: the most markets, the lowest fee per contract on ForecastEx, cheap currency conversion on larger amounts and a 3.38% APY coupon on ForecastEx positions. Wealthsimple Predict, the only other legal option, is the better choice for beginners, small trades and anyone aged 18 to 20.

- URL: https://safebet.ai/ca/prediction-markets/
- Markdown version: https://safebet.ai/ca/prediction-markets/index.html.md
- Last updated: 2026-10-22 (re-checked when an operator changes its terms or a regulator or court acts)
- Author: SafeBet.ai Research Team (SafeBet.ai)
- How we rank: facts from regulators' registers, official texts and the operators' own pages (see Sources); scores are SafeBet.ai's editorial ratings — https://safebet.ai/ca/prediction-markets/how-we-rank/index.html.md
- Notice: General information, not investment advice. SafeBet.ai isn’t registered with any Canadian securities regulator, and we only link to the two CIRO dealers allowed to offer event contracts in Canada.
- Editorial policy and advertiser disclosure: https://safebet.ai/editorial-policy/

Only two dealers may offer event contracts to Canadians, and both are limited to economic, financial and climate contracts. We compared them on regulation, markets, fees and currency conversion in Canadian dollars, liquidity, funding and the apps, as of October 22, 2026.

## Our top 2 (October 2026)

1. **[Interactive Brokers](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/)** — Best overall for fees and market choice (8.1/10): The first dealer allowed to offer event contracts in Canada: 482 markets on ForecastEx and Kalshi, a 1¢ fee on ForecastEx and a 3.38% APY coupon, for traders 21 and older.
2. **[Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/)** — Best for beginners and 18- to 20-year-olds (7.6/10): Wealthsimple's standalone prediction-market app: Kalshi's economic, market and climate contracts for Canadians from the age of majority, funded instantly by Interac e-Transfer.

## Comparison

| # | Prediction market | Score | Regulation | Exchange | Markets | Trading fee | Currency conversion | Deposits | Apps | Min. age |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | [Interactive Brokers](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/) | 8.1/10 | CIRO dealer · CIPF member | ForecastEx and Kalshi | 482 markets: economics, finance, climate | 1¢/contract on ForecastEx; 2¢ on Kalshi | 0.2 basis points, min. US$2 per conversion | EFT, wire, online bill payment | Web, IBKR Mobile, Desktop, TWS | 21+ |
| 2 | [Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/) | 7.6/10 | CIRO dealer · CIPF member | Kalshi | Thousands of contracts: economics, finance, climate | 2¢/contract on every buy and sell | 1.5% under $10,000 (less on larger amounts) | Interac e-Transfer, linked bank, Wealthsimple transfers | iOS and Android only | Age of majority (18 or 19) |

## 1. Interactive Brokers — Best overall for fees and market choice

Score: 8.1/10 · [Full review](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/) · [Alternatives](https://safebet.ai/ca/prediction-markets/interactive-brokers-alternatives/)

Interactive Brokers Canada became the first CIRO dealer to offer event contracts in April 2025, and on October 22, 2026, its Canadian site listed 482 markets: 334 on ForecastEx, the exchange Interactive Brokers owns, and 148 on Kalshi. ForecastEx contracts cost no commission and a US$0.01 exchange fee, and ForecastEx pays a 3.38% APY coupon on your positions. Converting dollars costs 0.2 basis points with a US$2 minimum, so it's cheapest when you convert a few hundred dollars at a time. The catches: you must be 21, Canada-specific ForecastEx markets trade thinly, and the platforms are built for experienced investors.

**Pros:** The lowest trading fee in Canada: no commission and US$0.01 per contract on ForecastEx; A 3.38% APY coupon on ForecastEx positions, paid monthly; The widest choice: 482 markets on two exchanges, ForecastEx and Kalshi; Currency conversion at 0.2 basis points, far cheaper than a percentage fee on larger amounts; Web, mobile and desktop platforms; IBKR Mobile is rated 4.5/5; The first dealer approved, in April 2025, backed by a listed broker with 5.58 million accounts worldwide.

**Cons:** You must be 21 or older to trade event contracts; ForecastEx's Canadian markets trade thinly: 477 matched pairs in its Bank of Canada market in 30 days; A US$2 minimum per currency conversion makes small conversions expensive; Kalshi markets cost US$0.02 per contract, the same as Wealthsimple; Built for investors: you request a trading permission and learn a complex platform.

## 2. Wealthsimple Predict — Best for beginners and 18- to 20-year-olds

Score: 7.6/10 · [Full review](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/) · [Alternatives](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-alternatives/)

Wealthsimple Predict is the prediction-market app Wealthsimple launched in July 2026, after CIRO authorized it in March. It offers thousands of Kalshi contracts on economic data, financial markets and climate, routed to Kalshi's order book, the deepest behind either Canadian dealer. It's the friendliest option: open from the age of majority in your province, funded instantly by Interac e-Transfer, with fractional contracts and a guided first trade. It's also the dearer one: US$0.02 per contract on every buy and sell, plus 1.5% on currency conversions under $10,000. The app is mobile-only and rated about 3 out of 5.

**Pros:** Open from the age of majority, 18 or 19, where Interactive Brokers requires 21; Trades on Kalshi, the deepest order book behind a Canadian dealer; Instant funding by Interac e-Transfer, and the account holds both CAD and USD; Fractional contracts: you can trade any dollar amount; A simple dedicated app with a guided first trade, risk reminders and a recommended loss limit; Wealthsimple says cash and contracts in the account are eligible for CIPF coverage.

**Cons:** US$0.02 per contract on every buy and sell, 20% of the price of a 10¢ contract; 1.5% to convert anything under $10,000, on a rate that already includes a spread; Mobile only, rated 3.3/5 on the App Store and 3.0/5 on Google Play; Withdrawing bank deposits means waiting for them to settle, then 1 to 3 business days; Its app and website have shown markets Canadians can't trade, which CIRO told dealers to stop in October 2026.

## Best for…

- **Lowest fees:** Interactive Brokers — US$0.01 per contract on ForecastEx with no commission, and currency conversion at 0.2 basis points (minimum US$2) instead of a percentage.
- **18- to 20-year-olds:** Wealthsimple Predict — Open from the age of majority in your province, 18 or 19. Interactive Brokers requires 21 for event contracts.
- **Beginners:** Wealthsimple Predict — A dedicated app with mandatory onboarding, a guided first trade, fractional contracts and a recommended loss limit.
- **Earning interest while you wait:** Interactive Brokers — ForecastEx pays a 3.38% APY coupon on the value of your positions, accrued daily and paid monthly.
- **Instant funding:** Wealthsimple Predict — Interac e-Transfers are tradable immediately, with no hold.

## How we rank

- **Regulation & safety (25%):** Is it an investment dealer regulated by CIRO and approved to offer event contracts in Canada, are client accounts covered by CIPF, and does it follow CIRO’s conditions?
- **Markets & features (20%):** How many economic, financial and climate contracts can Canadians trade, how many are on Canadian data, and which order types and tools come with them?
- **Fees & pricing (20%):** What does an order really cost in Canadian dollars: the fee per contract on buys and sells, plus converting to and from US dollars?
- **Liquidity (15%):** How deep is the order book behind it in the contracts Canadians can trade, so you can get in and out at fair prices?
- **Deposits & withdrawals (10%):** How do you fund it from a Canadian bank, how fast can you trade and withdraw, and can you hold US dollars?
- **App & experience (10%):** How good are the apps and website, how clearly are the risks explained, and how easy is it to get help?

## What is a prediction market?

A prediction market lets you buy yes/no contracts on whether something will happen: whether the Bank of Canada cuts its rate at its next meeting, whether US inflation tops a threshold, whether a city's rainfall passes a mark. Each contract costs between US$0.01 and US$0.99 and pays US$1 if you're right, so the price works as the market's estimate of the probability. Buy Yes at 40¢ and you're betting the chance is better than 40%.

In Canada these contracts are called event contracts, or forecast contracts at Interactive Brokers, and they're derivatives, regulated by the provincial securities commissions and the Canadian Investment Regulatory Organization (CIRO). That's why your choice is so much narrower than in the US. Our guide to [how prediction markets work in Canada](https://safebet.ai/ca/prediction-markets/how-prediction-markets-work/) goes through the mechanics.

## Are prediction markets legal in Canada?

Yes, through two dealers. Interactive Brokers Canada has offered forecast contracts since April 2025, and Wealthsimple has had CIRO's authorization since March 2026 and launched its Predict app in July. No prediction market itself is recognized, registered or exempted by Canada's securities regulators, so the platforms Americans use, such as Polymarket, can't legally serve Canadians.

Both dealers trade under CIRO's conditions, published in March 2026 and tightened on October 16, 2026: economic, environmental and financial indicator contracts only, at least 30 days to maturity when listed, no leverage, and nothing on sports, entertainment, elections or politics. Our guide to [whether prediction markets are legal in Canada](https://safebet.ai/ca/prediction-markets/are-prediction-markets-legal/) explains each rule and where it comes from.

## Where Polymarket and Kalshi stand

- **Polymarket** isn't registered anywhere in Canada. Under a 2025 settlement with the Ontario Securities Commission it must keep Ontario residents out, and by early July 2026 it had also blocked Alberta, British Columbia and Quebec. Elsewhere it may load, but it's still unregistered. [Is Polymarket legal in Canada?](https://safebet.ai/ca/prediction-markets/is-polymarket-legal-in-canada/)
- **Kalshi** lists Canada as a restricted jurisdiction: Canadians can't trade on Kalshi itself. Its economic, financial and climate contracts reach Canada through Wealthsimple Predict, which routes every order to Kalshi, and through Interactive Brokers, which lists some Kalshi markets. [Is Kalshi available in Canada?](https://safebet.ai/ca/prediction-markets/kalshi-in-canada/)

Not sure about another site? Our [legit check](https://safebet.ai/ca/prediction-markets/legit-check/) tells you whether a platform can legally serve Canadians.

## Province by province

| Province or territory | Age of majority | Polymarket |
|---|---|---|
| Alberta | 18 | Blocked by Polymarket since early July 2026 |
| British Columbia | 19 | Blocked by Polymarket since early July 2026 |
| Manitoba | 18 | Not registered |
| New Brunswick | 19 | Not registered |
| Newfoundland and Labrador | 19 | Not registered |
| Nova Scotia | 19 | Not registered |
| Ontario | 18 | Barred under the 2025 OSC settlement (restricted since May 2023) |
| Prince Edward Island | 18 | Not registered |
| Quebec | 18 | Blocked by Polymarket since late June 2026 |
| Saskatchewan | 18 | Not registered |
| Northwest Territories, Nunavut, Yukon | 19 | Not registered |

We found no province where either dealer is unavailable as of October 22, 2026. Wealthsimple Predict requires the age of majority in your province; Interactive Brokers requires 21 everywhere.

## How much do prediction markets cost in Canada?

Two costs add up: the fee per contract and the conversion from Canadian to US dollars, because every contract is priced in US dollars.

| | Interactive Brokers | Wealthsimple Predict |
|---|---|---|
| Fee per contract | US$0.01 on ForecastEx; US$0.02 on Kalshi | US$0.02 on every buy and sell |
| Currency conversion | 0.20 basis points, min. US$2 per conversion | 1.5% under $10,000 |
| Interest on positions | 3.38% APY on ForecastEx positions | None found |

Take 100 contracts at 40¢, held to settlement, at the Bank of Canada's rate of 1.4057 on October 21, 2026. Converted just for that order and back, it costs C$59.92 all-in at Wealthsimple and C$60.45 on ForecastEx at IBKR, because IBKR's US$2 minimum weighs on a small amount. Convert $1,000 at a time and ForecastEx costs C$57.80. Our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/) does the sums for your own trade, and the [fees guide](https://safebet.ai/ca/prediction-markets/prediction-market-fees/) explains every charge.

## Prediction markets vs sports betting in Canada

If you came looking for sports, event contracts can't help: Canadian dealers aren't allowed to offer them, and in August 2026 the regulators said sports and entertainment contracts fall outside securities law, which leaves them to the provinces' gambling rules. Sports betting itself is legal, single games included since 2021, through each province's lottery corporation and, in Ontario, through private sportsbooks registered with the Alcohol and Gaming Commission of Ontario and run under contract with iGaming Ontario. Those are gambling sites with their own rules and help tools, not event-contract markets.

## Taxes

The Canada Revenue Agency hasn't issued guidance specific to event contracts. Wealthsimple tells clients that gains and losses are generally capital gains or losses, reported in Canadian dollars at the exchange rate on each transaction, and that frequent trading can make them business income. Casual gambling winnings, by contrast, generally aren't taxed. Our [guide to prediction market taxes in Canada](https://safebet.ai/ca/guides/prediction-market-taxes/) explains how to report them.

## How to choose

- **You're 21 or older and trade regularly:** Interactive Brokers. Convert a few hundred dollars at a time to spread its US$2 conversion minimum.
- **You're 18 to 20, or new to this:** Wealthsimple Predict. Fund by Interac, start small, and use limit orders in quiet markets.
- **You trade Canadian data, like the Bank of Canada's rate:** Kalshi's markets are far deeper than ForecastEx's, and both dealers give you Kalshi markets, at US$0.02 per contract.
- **You want sports or elections:** neither dealer offers them, and no legal Canadian platform does.

## Trading responsibly

Event contracts are all-or-nothing: if you're wrong, the contract pays nothing and you lose what you paid. After fees and currency conversion you need to be right more often than the price implies just to break even. Set a budget you can afford to lose, keep it separate from your savings, and use Wealthsimple's recommended loss limit or your own. If trading stops being fun or starts to feel like chasing losses, our [guide to gambling help in Canada](https://safebet.ai/ca/guides/gambling-help-canada/) lists the free, confidential helpline in every province and territory.

## Frequently asked questions

### What is the best prediction market in Canada?

Interactive Brokers, for traders 21 and older: it lists the most markets, charges the least per contract on ForecastEx, converts currency cheaply on larger amounts and pays a coupon on ForecastEx positions. Wealthsimple Predict is better for beginners, small trades and 18- to 20-year-olds. See our [head-to-head comparison](https://safebet.ai/ca/prediction-markets/interactive-brokers-vs-wealthsimple-predict/).

### Are prediction markets legal in Canada?

Yes, but only through the two CIRO-regulated dealers approved to offer event contracts, Interactive Brokers Canada and Wealthsimple, and only for economic, financial and climate contracts with at least 30 days to maturity. Platforms that aren't registered in Canada can't legally serve you. Read [are prediction markets legal in Canada?](https://safebet.ai/ca/prediction-markets/are-prediction-markets-legal/)

### Is Polymarket legal in Canada?

No. Polymarket isn't registered with any Canadian securities regulator. A 2025 settlement with the Ontario Securities Commission bars it from Ontario, and by early July 2026 it had also blocked Alberta, British Columbia and Quebec. See [is Polymarket legal in Canada?](https://safebet.ai/ca/prediction-markets/is-polymarket-legal-in-canada/)

### Can I use Kalshi in Canada?

Not on Kalshi itself: its member agreement lists Canada as a restricted jurisdiction where members may not trade event contracts. You can trade some of its economic, financial and climate contracts through Wealthsimple Predict, which routes every order to Kalshi, or through Interactive Brokers, which lists some Kalshi markets. See [is Kalshi available in Canada?](https://safebet.ai/ca/prediction-markets/kalshi-in-canada/)

### Can I trade sports or election contracts in Canada?

No. CIRO doesn't allow its dealers to offer sports, entertainment, election or political contracts. Regulators said in August 2026 that sports and entertainment contracts fall outside securities law, so they're a matter for provincial gambling rules; sports betting is legal through provincial sites and, in Ontario, private sportsbooks registered with the AGCO.

### How old do you have to be to trade prediction markets in Canada?

At Wealthsimple Predict, the age of majority in your province: 18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, and 19 elsewhere. Interactive Brokers requires you to be 21 for event contracts.

### What do prediction markets cost in Canada?

A fee per contract plus the cost of converting to US dollars. Wealthsimple 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 0.20 basis points per conversion with a US$2 minimum. Our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/) adds it all up in Canadian dollars.

### Do you pay tax on prediction market winnings in Canada?

Usually, yes. Unlike casual gambling winnings, gains on event contracts traded through a dealer are generally treated as capital gains, or as business income if you trade often. See our [guide to prediction market taxes in Canada](https://safebet.ai/ca/guides/prediction-market-taxes/).

### How do you rank prediction markets in Canada?

We score each eligible dealer from 0 to 10 on regulation (25%), markets (20%), fees in Canadian dollars (20%), liquidity (15%), deposits and withdrawals (10%) and the app (10%), and the ranking follows the overall scores. Only dealers approved to offer event contracts in Canada are eligible. See [how we rank prediction markets in Canada](https://safebet.ai/ca/prediction-markets/how-we-rank/).

## Guides

- [Are prediction markets legal in Canada?](https://safebet.ai/ca/prediction-markets/are-prediction-markets-legal/): 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.
- [Is Polymarket legal in Canada?](https://safebet.ai/ca/prediction-markets/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.
- [Is Kalshi available in Canada?](https://safebet.ai/ca/prediction-markets/kalshi-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.
- [How prediction markets work in Canada](https://safebet.ai/ca/prediction-markets/how-prediction-markets-work/): 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.
- [Prediction market fees in Canada](https://safebet.ai/ca/prediction-markets/prediction-market-fees/): 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.
- [Are prediction markets safe in Canada?](https://safebet.ai/ca/prediction-markets/safe-prediction-markets/): 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.
- [How we rank prediction markets in Canada](https://safebet.ai/ca/prediction-markets/how-we-rank/): 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.

## Sources

1. [Administrative Bulletin 26-0076: Application of CIRO Requirements to Event Contracts](https://www.ciro.ca/newsroom/publications/application-ciro-requirements-event-contracts) — Canadian Investment Regulatory Organization, 2026-03-26
2. [Prediction markets: CSA and CIRO remind industry and investors of the current rules](https://www.ciro.ca/newsroom/publications/prediction-markets-csa-and-ciro-remind-industry-and-investors-current-rules) — CSA and CIRO, 2026-04-02
3. [Joint CSA and CIRO Staff Notice 91-307: Guidance Related to Event Contracts](https://www.osc.ca/en/securities-law/instruments-rules-policies/9/91-307/joint-csa-and-ciro-staff-notice-91-307-guidance-related-event-contracts-compliance-regulatory) — Ontario Securities Commission (CSA), 2026-08-27
4. [Administrative Bulletin 26-0215: Update to CIRO Requirements Regarding Event Contracts](https://www.ciro.ca/newsroom/publications/update-ciro-requirements-regarding-event-contracts) — Canadian Investment Regulatory Organization, 2026-10-16
5. [IBKR Prediction Markets (Canada)](https://www.interactivebrokers.ca/predictionmarkets/en/home.php) — Interactive Brokers Canada, accessed 2026-10-22
6. [Commissions: event contracts](https://www.interactivebrokers.ca/en/pricing/commissions-events.php) — Interactive Brokers Canada, accessed 2026-10-22
7. [Understanding Wealthsimple Predict](https://help.wealthsimple.com/hc/en-ca/articles/51862041944219) — Wealthsimple Help Centre, 2026-10-15
8. [Fees: trading (event contract fee and currency conversion)](https://www.wealthsimple.com/en-ca/legal/fees/trade) — Wealthsimple, accessed 2026-10-22
9. [Trading on prediction markets from Canada? Mind the fees](https://www.theglobeandmail.com/investing/personal-finance/article-trading-on-prediction-markets-from-canada-mind-the-fees/) — The Globe and Mail, 2026-10-19
10. [Daily exchange rates (USD/CAD)](https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates/) — Bank of Canada, 2026-10-21