The best Wealthsimple Predict alternatives in Canada
Wealthsimple Predict is the simplest prediction market in Canada, but it charges US$0.02 per contract both ways and 1.5% to convert most deposits. Only one other dealer is allowed to offer event contracts to Canadians, Interactive Brokers, and it's cheaper and broader if you're 21 or older.
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Best Wealthsimple Predict alternatives
Checked
The best Wealthsimple Predict alternative for most people in Canada is Interactive Brokers. Interactive Brokers is the only other dealer allowed to offer event contracts in Canada, and it's the cheaper one: US$0.01 per contract on ForecastEx with no commission, currency conversion at 0.2 basis points, and a 3.38% APY coupon on ForecastEx positions.
You want lower trading fees: ForecastEx contracts at Interactive Brokers cost US$0.01 per contract with no commission, half of Wealthsimple's US$0.02.
You convert larger amounts: Interactive Brokers charges 0.2 basis points with a US$2 minimum, against Wealthsimple's 1.5% under $10,000.
You want more markets: Interactive Brokers listed 482 markets on two exchanges, ForecastEx and Kalshi, on October 22, 2026.
You want to earn something while you wait: ForecastEx pays a 3.38% APY coupon on positions; we found no interest on Wealthsimple Predict positions.
You want to trade on a computer: Wealthsimple Predict is mobile-only, while Interactive Brokers has web and desktop platforms.
The best Wealthsimple Predict alternatives in Canada
Rank #1
Interactive Brokers
Best overall for fees and market choice
8.1 /10
Interactive Brokers is the only other dealer allowed to offer event contracts in Canada, and it's the cheaper one: US$0.01 per contract on ForecastEx with no commission, currency conversion at 0.2 basis points, and a 3.38% APY coupon on ForecastEx positions. It also lists more markets, across ForecastEx and Kalshi. The catches: you must be 21, ForecastEx's Canadian markets trade thinly, and its platforms are built for experienced investors.
Exchange
ForecastEx and Kalshi
Trading fee
1¢/contract on ForecastEx; 2¢ on Kalshi
Currency conversion
0.2 basis points, min. US$2 per conversion
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
These aren’t in our top 2, but they can make sense in specific situations.
Your province's sports betting site
If you want sports, no Canadian dealer can offer sports event contracts. Sports betting is legal through each province's site, such as PlayNow, OLG's Proline+, Mise-o-jeu+ and PlayAlberta, and in Ontario at sportsbooks registered with the AGCO and iGaming Ontario.
A play-money prediction market: no real money in or out, so it's a free way to practise forecasting.
Why Polymarket and Kalshi aren't on this list
Neither is registered with a Canadian securities regulator, so neither can legally offer you event contracts. Polymarket agreed in a 2025 settlement with the Ontario Securities Commission to keep Ontario residents out, and by early July 2026 it had also blocked Alberta, British Columbia and Quebec. Kalshi lists Canada as a restricted jurisdiction, so Canadians can't trade on Kalshi itself; its contracts reach Canadians through Wealthsimple Predict and, for some markets, Interactive Brokers.
Stay with Wealthsimple Predict if you're under 21, trade small amounts, or want to fund instantly by Interac and trade from a simple app. For conversions under about US$133, its 1.5% also beats Interactive Brokers' US$2 minimum.
What is the best alternative to Wealthsimple Predict?
Interactive Brokers, the only other dealer allowed to offer event contracts in Canada. It's cheaper per contract and per conversion and lists more markets, but you must be 21 and the platforms are more complex.
Is there a cheaper prediction market than Wealthsimple in Canada?
On most orders, yes: ForecastEx contracts at Interactive Brokers cost US$0.01 per contract, half of Wealthsimple's fee, and IBKR's currency conversion is far cheaper on larger amounts. On a very small conversion, IBKR's US$2 minimum can cost more than Wealthsimple's 1.5%.
Can I use Polymarket instead of Wealthsimple Predict?
Not legally. Polymarket isn't registered in Canada, it's barred from Ontario under a 2025 OSC settlement, and it blocks Alberta, British Columbia and Quebec too. See is Polymarket legal in Canada?
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