# 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.

- URL: https://safebet.ai/ca/prediction-markets/is-polymarket-legal-in-canada/
- Markdown version: https://safebet.ai/ca/prediction-markets/is-polymarket-legal-in-canada/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)
- Editorial policy and advertiser disclosure: https://safebet.ai/editorial-policy/

## Key takeaways

- Polymarket isn't registered in Canada, and no prediction market is recognized, registered or exempted by the Canadian Securities Administrators.
- In April 2025 its operators settled with the Ontario Securities Commission over breaching Canada's binary-options ban: a $200,000 penalty, two-year market bans and an undertaking to keep Ontario residents out.
- Polymarket itself blocks Alberta, British Columbia and Quebec: Quebec since late June 2026, Alberta and BC since early July. Users there can only close old positions.
- In the other provinces and territories the site loads, but it's still unregistered: no Canadian regulator to complain to and no CIPF protection.
- The legal way to trade event contracts in Canada is through Interactive Brokers or Wealthsimple Predict, which don't offer sports or elections.

## The short answer

No. Polymarket isn't registered with any securities regulator in Canada, so it can't legally offer event contracts to Canadians. It's barred from Ontario by a 2025 settlement with the Ontario Securities Commission, and it blocks Alberta, British Columbia and Quebec itself. In the other provinces and territories the site still loads, but it's no more registered there than anywhere else.

If you want to trade event contracts legally, your options are [Interactive Brokers](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/) and [Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/).

## Why Polymarket can't legally serve Canadians

In Canada, event contracts are derivatives. Anyone dealing in them with Canadians has to be registered, or recognized as an exchange, with the provincial securities regulators, and on April 2, 2026, the Canadian Securities Administrators confirmed that no prediction market had been recognized, registered or exempted. Polymarket's short-dated yes/no contracts also run into Multilateral Instrument 91-102, which since 2017 has banned offering binary options with a term under 30 days to individuals everywhere except British Columbia.

Only two dealers may offer event contracts in Canada: Interactive Brokers Canada and Wealthsimple, both regulated by the Canadian Investment Regulatory Organization (CIRO). Polymarket isn't one of them.

## The Ontario settlement

Ontario is the one province where a regulator has acted against Polymarket directly. The Ontario Securities Commission found that the platform's current and former operators, Adventure One QSS Inc. and Blockratize Inc., had offered binary options to Ontario investors from June 2020 to May 2023, breaching the binary-options ban. Polymarket first restricted Ontario in May 2023, after the OSC contacted it.

The settlement, approved by the Capital Markets Tribunal on April 17, 2025, required:

- a $200,000 administrative penalty and $25,000 in investigation costs;
- a voluntary payment of US$22,966.75, the estimated revenue from Ontario users;
- two-year bans from trading securities or derivatives in Ontario, except to let Ontario users close existing positions;
- an undertaking to keep Ontario residents barred in its terms, block deposits and new trades from Ontario, and not market to Ontario, which lasts until the OSC agrees otherwise.

Polymarket's help centre says people in Ontario can view market data but can't deposit or trade.

## Alberta, British Columbia and Quebec

Polymarket added three more provinces to its own block list in summer 2026. Its developer documentation listed Quebec by June 28 and Alberta and British Columbia by July 3, and its terms of use now bar people in all four provinces from trading. Casino.org reported that Alberta minister Dale Nally said Polymarket had geo-fenced Alberta voluntarily.

In those provinces the account is close-only: you can close positions you already hold, but you can't open new ones. Polymarket's terms forbid using a VPN to get around the block.

British Columbia's gambling regulator has gone further: on August 28, 2026, it said that sites offering bets on sports and entertainment, other than BCLC's PlayNow.com, operate illegally in the province.

## The rest of Canada

Polymarket doesn't block Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, or the territories, so the site works there. That isn't the same as being legal. Polymarket isn't registered in any of them, and the Nova Scotia Securities Commission said in June 2026 that Polymarket and Kalshi can't offer contracts shorter than 30 days in Nova Scotia or other Canadian jurisdictions.

The enforcement we found has targeted the platform rather than its users. But on an unregistered platform you have none of the protections of a Canadian dealer: no CIRO oversight, no Canadian Investor Protection Fund coverage, and no Canadian regulator or ombudsman to take a complaint to.

## Polymarket and Canadian elections

Polymarket has a Canada section with markets on Canadian topics, and CBC reported on October 15, 2026 that prediction markets were taking bets on Ontario's municipal elections. The OSC told CBC it expects compliance with its orders and settlements, which in Polymarket's case include keeping Ontario residents out. Election and political contracts are excluded from what CIRO lets Canadian dealers offer, so there's no legal Canadian way to trade them.

## Polymarket vs the legal options

| | Polymarket | Interactive Brokers | Wealthsimple Predict |
|---|---|---|---|
| Registered in Canada | No | CIRO dealer | CIRO dealer |
| Available | Blocked in ON, AB, BC, QC; unregistered elsewhere | All provinces | All provinces |
| Sports, elections, culture | Yes | No | No |
| Contracts under 30 days | Yes | No | No |
| Investor protection | None in Canada | CIPF member | CIPF member |
| Complaints | No Canadian recourse | CIRO, then OBSI | CIRO, then OBSI |

The registered dealers give you far fewer markets, but your money sits with a regulated Canadian firm. Our [comparison of the two](https://safebet.ai/ca/prediction-markets/interactive-brokers-vs-wealthsimple-predict/) and the [full ranking](https://safebet.ai/ca/prediction-markets/) help you choose.

## What to use instead

- **For economic, market and climate contracts:** Interactive Brokers if you're 21 or older and trade regularly; Wealthsimple Predict if you're 18 to 20 or new to this.
- **For sports:** your province's betting site, such as PlayNow in British Columbia, Mise-o-jeu+ in Quebec or OLG's Proline+ in Ontario, or a private sportsbook registered with the AGCO in Ontario.
- **For practice:** Manifold, a play-money prediction market, costs nothing.

Not sure about another site? Run it through our [legit check](https://safebet.ai/ca/prediction-markets/legit-check/).

## Frequently asked questions

### Can I use Polymarket in Ontario?

No. Under its 2025 settlement with the Ontario Securities Commission, Polymarket must keep Ontario residents out. Its help centre says people in Ontario can view market data but can't deposit or trade, and existing positions can only be closed.

### Can I use Polymarket with a VPN?

Polymarket's terms forbid using a VPN to get around its restrictions, and breaking them puts your account and your money at risk. It also doesn't change the basic problem: Polymarket isn't registered in Canada, so you'd have no Canadian regulator to complain to if something went wrong.

### Is Polymarket legal in Saskatchewan, Manitoba or Nova Scotia?

Polymarket doesn't block them, but it isn't registered there either, and regulators say anyone dealing in event contracts that are derivatives must be registered. The Nova Scotia Securities Commission said in June 2026 that Polymarket and Kalshi can't offer contracts shorter than 30 days in Nova Scotia or other Canadian jurisdictions. Enforcement so far has targeted the platform, but you'd have none of the protections of a registered dealer.

### What happened between Polymarket and the OSC?

The OSC found that Polymarket's current and former operators, Adventure One QSS Inc. and Blockratize Inc., offered binary options to Ontario investors from June 2020 to May 2023 in breach of Multilateral Instrument 91-102. They settled in April 2025: a $200,000 administrative penalty, $25,000 in costs, a voluntary payment of US$22,966.75, two-year bans from Ontario's capital markets, and an undertaking to keep Ontario residents out that lasts until the OSC agrees otherwise.

### Does Polymarket list Canadian markets?

Yes: Polymarket has a Canada section, and CBC reported in October 2026 that prediction markets were taking bets on Ontario's municipal elections. Ontario residents can't trade on Polymarket, and Canadian dealers can't offer election contracts at all.

### What is the legal alternative to Polymarket in Canada?

[Interactive Brokers](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/) and [Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/), the two CIRO dealers allowed to offer event contracts. They're limited to economic, financial and climate contracts, so there's no sports or politics, but your account is with a regulated Canadian firm.

## Sources

1. [OSC reaches settlement with current and former operators of Polymarket for breach of binary options ban](https://www.osc.ca/en/news-events/news/osc-reaches-settlement-current-and-former-operators-polymarket-breach-binary-options-ban) — Ontario Securities Commission, 2025-04-17
2. [Order: Ontario Securities Commission v. Blockratize Inc. (File No. 2025-8)](https://www.capitalmarketstribunal.ca/sites/default/files/2025-04/rad_20250417_osc-blockratize.pdf) — Capital Markets Tribunal, 2025-04-17
3. [Settlement agreement: Blockratize Inc. and Adventure One QSS Inc.](https://www.capitalmarketstribunal.ca/sites/default/files/2025-04/set_20250331_osc-blockratize.pdf) — Capital Markets Tribunal, 2025-03-31
4. [Geographic Restrictions](https://help.polymarket.com/en/articles/13364163-geographic-restrictions) — Polymarket Help Center, 2026-08-14
5. [Geographic restrictions (geoblock API)](https://docs.polymarket.com/api-reference/geoblock) — Polymarket, 2026-09-17
6. [Alberta iGaming market expands as Polymarket geo-blocks provinces](https://www.casino.org/news/alberta-igaming-market-expands-polymarket-geo-blocks/) — Casino.org, 2026-07-18
7. [Prediction markets: CSA and CIRO remind industry and investors of the current rules](https://www.securities-administrators.ca/news/prediction-markets-csa-and-ciro-remind-industry-and-investors-of-the-current-rules/) — Canadian Securities Administrators, 2026-04-02
8. [Multilateral Instrument 91-102 Prohibition of Binary Options](https://www.osc.ca/en/securities-law/instruments-rules-policies/9/91-102/multilateral-instrument-91-102-prohibition-binary-options) — Ontario Securities Commission (CSA), in force 2017-12-12
9. [Are Prediction Markets & Event Contracts legal in Nova Scotia?](https://nssc.novascotia.ca/before-you-invest/are-prediction-markets-event-contracts-legal-nova-scotia) — Nova Scotia Securities Commission, 2026-06-17
10. [IGCO Update – Prediction Markets](https://www.igcobc.ca/updates/2026-08-28/igco-update-prediction-markets) — BC Independent Gambling Control Office, 2026-08-28
11. [Prediction markets take bets on Ontario municipal elections](https://www.cbc.ca/news/canada/toronto/prediction-markets-municipal-elections-9.7382020) — CBC News, 2026-10-15