Prediction market mania is migrating north, albeit sans sports or election betting for the time being.
The Canadian Investment Regulatory Organization (CIRO), a national self-regulatory group for the country’s investing industry, issued a bulletin on Thursday clarifying prediction market-related rules for members.
This, the CIRO said, was “in response to growing interest among market participants and investors in prediction markets and event contracts.”
According to the CIRO, two of its Investment Dealer Members (Interactive Brokers Canada and Wealthsimple) have thus far been approved by the regulator to facilitate event contract trading. However, these prediction markets are subject to certain terms and conditions imposed by the CIRO, which were developed in consultation with provincial securities regulators.
