Wealthsimple is launching Canada’s first prediction market platform in partnership with Kalshi
Online investment company Wealthsimple is launching a new prediction market platform in Canada by partnering with Kalshi.
According to the company, the launch will give Canadian investors access to event-based contracts linked to a variety of topics.
The product will be delivered through a standalone app called Wealthsimple Predict and is due to launch this summer. Wealthsimple says users will be able to trade around 4,000 event contracts offered by Kalshi, though only in the categories Wealthsimple is authorized to offer to Canadian residents, including financial markets, economic indicators, and climate events.
Prediction market contracts enable people to take positions on the outcome of future events, presented in a yes-or-no format and settled at a fixed value depending on the outcome. Prices fluctuate based on market sentiment and can be bought and sold multiple times.
The launch follows the Canadian Investment Regulatory Organization (CIRO) granting Wealthsimple approval to offer event and forecast contracts, which are regulated in Canada as futures contracts. The authorization includes contracts that have settlement periods of 30 days or longer within approved categories.
To use the service, customers will have to complete standard verification procedures. According to Wealthsimple, the platform will also include educational materials, disclosures, and details on trading risk during the customer onboarding process.
The app will only be available to residents in Canada.
“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone,” said Alex Cuoci of Kalshi. “That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets.”