Canada is having a moment of concern about prediction markets, and local regulators are reading the riot act to overly keen firms and investors.
On Thursday, the Canadian Securities Administrators (CSA), an umbrella group for provincial securities regulators, and the Canadian Investment Regulatory Organization (CIRO), an industry self-regulator, issued a press release reminding everyone of the restrictions on prediction markets and event contracts in Canada.
“Anyone trading, or facilitating trading, in event contracts which are securities or derivatives, must follow applicable requirements under securities or derivatives legislation, such as registration or recognition requirements,” the release states.
