Canadian Gaming

B.C. Regulator Draws Firm Line Against Sports Prediction Markets

Posted on: September 8, 2026, 02:03h.

Last updated on: September 9, 2026, 05:16h.

Written by

Mark Keast Mark is a long-time, seasoned journalist, as a writer and editor, working for several Toronto daily newspapers, then moving over to the digital arena, covering both sports and business. Over the past few years he moved over to the gaming arena, specifically covering the igaming industry in Canada for several platforms, as well as writing on sports betting.

Key Points

B.C.’s regulator says sports and entertainment event contracts constitute gambling, not financial-market products
Wealthsimple Predict can offer financial, economic and climate contracts—but cannot include sports or entertainment
BCLC’s PlayNow.com remains the only platform authorized to conduct commercial online gambling in British Columbia

British Columbia’s gambling regulator has joined the growing push against treating sports and entertainment prediction contracts in Canada as securities or derivatives.

Wealthsimple has launched its prediction market trading app in Canada. (Image: Wealthsimple)

According to a statement from the Independent Gambling Control Office (IGCO), products based on sports and entertainment outcomes are considered gambling and must be regulated under the Criminal Code of Canada and provincial gaming legislation.

“The British Columbia Lottery Corporation (BCLC) is the only entity permitted to conduct and manage commercial gambling, including online gambling and sports betting, on behalf of the B.C. provincial government,” the IGCO said.

The IGCO’s statement supports a joint notice issued Aug. 27 by the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO). The financial regulators issued guidance clarifying that sports and entertainment prediction markets fall outside securities and derivatives law.

Wealthsimple Begins Canadian Rollout

CIRO announced in March that fintech platform Wealthsimple could offer event contracts tied to financial market outcomes, economic indicators, and climate data.

Wealthsimple is now rolling out Wealthsimple Predict in Canada. The app offers access to nearly 4,000 event contracts, with prices reflecting the market’s collective assessment of an outcome’s likelihood.

“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. Until now, Canadians have had limited access,” said Brett Huneycutt, co-founder and chief product officer, Wealthsimple.

BCLC Retains Online Monopoly

While sports and entertainment event contracts trade on U.S. platforms like Polymarket, Coinbase, Novig, and Robinhood, BCLC’s PlayNow.com remains British Columbia’s sole regulated commercial online casino and sports betting platform.

“All other online gambling websites that allow B.C. players to access their sites, including those that offer event contracts based on sports or entertainment outcomes, operate illegally in our province,” the IGCO stated.

While financial prediction markets continue to gain regulatory traction in Canada, British Columbia makes clear that sports and entertainment betting remain strictly within the domain of the provincial government.

Mark is a long-time, seasoned journalist, as a writer and editor, working for several Toronto daily newspapers, then moving over to the digital arena, covering both sports and business. Over the past few years he moved over to the gaming arena, specifically covering the igaming industry in Canada for several platforms, as well as writing on sports betting.