Wealthsimple and Kalshi Announce Prediction Market Deal in Canada
Canadian fintech company Wealthsimple has signed a deal with Kalshi to offer event contracts to local traders. It will soon launch a prediction market platform.
Under the deal, Wealthsimple Predict will share around 4,000 Kalshi prediction markets with its Canadian base.
Finance, weather, and the economy are among the targeted event contract categories to be featured.
At a Glance:
- Wealthsimple Predict customers to access roughly 4,000 Kalshi markets
- Canadian Investment Regulatory Organization (CIRO) gives regulatory ‘Yes’
- Permitted for event contracts covering finance and weather
- Wealthsimple cleared in March to offer prediction markets in Canada
- Kalshi is aggressively expanding its operations in 2026
Wealthsimple Predict looks to increase Canada’s 'limited access'
Wealthsimple’s standalone prediction market app is set to launch this summer. It’s licensed by the Canadian Investment Regulatory Organization (CIRO) to offer event contracts.
Like other prediction markets, traders will be able to buy and sell shares in real-life events. While most major prediction markets offer a mix of sports, entertainment, and political events, Wealthsimple will target climate and the economy.
“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," said Wealthsimple’s co-founder, Brett Huneycutt. "Until now, Canadians have had limited access.
“Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one.”
How prediction markets and sportsbooks differ
Online sportsbooks are legal in some areas of Canada. However, prediction markets can fill the void where traditional sports betting is not permitted.
The differences between prediction markets and sportsbooks generally center on how prices are set. At sportsbooks, odds are set centrally, while prediction markets are driven by the prices customers are willing to buy or sell at.
Prediction markets also let you trade out of your position, rather like the cash-out option at online sportsbooks. It’s possible to sell your contracts long before a market matures, just like in traditional share-trading.
Wealthsimple’s CIRO regulation follows CFTC model
Wealthsimple’s access to the Canadian market operates under a model similar to that of U.S. platforms.
Wealthsimple can offer contract trading where users predict the outcomes of real-world events. As in the U.S., where the federal CFTC is king, contracts are regulated like share derivatives.
Prediction markets like Kalshi have clashed this year with U.S. states keen to protect their regulated sports betting industries.
This has led to multiple legal challenges. Cease-and-desist letters from state gambling commissions have been met with counter-lawsuits from the prediction market sites. Kalshi sued the state of Minnesota earlier this month for its attempts to curtail its business.
That sort of clash, however, looks unlikely in Canada once Wealthsimple Predict goes live. The operator won’t be offering any sports contracts, nor any on political events.
