Kalshi, the U.S.-based prediction market platform, has teamed up with Canadian investment firm Wealthsimple to release a prediction market app in Canada. The app gives users access to roughly 4,000 event contracts — bets on outcomes ranging from election results to weather patterns.
A new way to trade on outcomes
The app lets Canadians trade on yes-or-no contracts tied to real-world events. Each contract pays out $1 if the event happens, and $0 if it doesn’t. The price moves as traders update their probability estimates. Kalshi already runs a similar platform in the United States, where it is regulated by the Commodity Futures Trading Commission. Wealthsimple, which manages billions in client assets, is the distribution partner north of the border.
Neither company has disclosed a specific launch date for the Canadian version, but the app is now available for download. Users must be at least 18 and resident in Canada to participate.
Why the partnership matters
The deal gives Kalshi a foothold in a new market without having to build its own Canadian infrastructure. Wealthsimple brings a large existing user base and a trusted brand in personal finance. For Wealthsimple, the partnership adds a novel product category — event contracts — alongside its stock-trading, crypto, and robo-advisory services.
Prediction markets have drawn growing interest in recent years. Proponents argue they aggregate information efficiently and can forecast everything from election winners to disease outbreaks. Critics worry about gambling-like behavior and the potential for manipulation. Canada has no federal regulator specifically overseeing prediction markets, though provincial securities regulators may weigh in if contracts resemble derivatives.
What’s inside the app
The 4,000 contracts cover a wide range. Some are political: “Will the Liberal Party win the next federal election?” Others are financial: “Will the Bank of Canada cut rates by December?” Some are purely for entertainment: “Will Taylor Swift announce a new album this year?”
Traders can buy and sell contracts up to the minute they expire. Kalshi handles the matching and settlement. Wealthsimple handles the user interface, payments, and customer support.
The app also includes a news feed and a leaderboard, though the companies have not said whether they will monetize through trading fees or a subscription model.
Neither Kalshi nor Wealthsimple responded to requests for comment about revenue sharing or long-term plans for the Canadian market.
