Key facts
- Wealthsimple has launched a prediction market app called Wealthsimple Predict.
- The app is available to Canadian investors.
- Wealthsimple Predict is powered by Kalshi.
- The app has been approved by the Canadian Investment Regulatory Organization (CIRO).
- The app will offer access to approximately 4,000 event contracts.
- Event contracts are regulated as derivatives.
- Settlement periods for these contracts are at least 30 days.
Wealthsimple has introduced a new prediction market application named Wealthsimple Predict, specifically for Canadian investors. The platform is powered by Kalshi, a regulated exchange for event contracts, and has received approval from the Canadian Investment Regulatory Organization (CIRO). Wealthsimple Predict will provide users with access to approximately 4,000 distinct event contracts. These contracts are categorized as derivatives and are subject to regulations that mandate settlement periods of a minimum of 30 days. The launch signifies Wealthsimple's expansion into novel investment products, offering Canadians a new avenue to speculate on future events through a regulated framework.