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2 clusters · 4 sources · 4 days · First seen · Last updated

Canadian regulation of sports prediction markets

Overview

Canadian financial regulators, specifically the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO), have issued joint guidance clarifying that prediction markets based on sports or entertainment outcomes are not subject to existing securities or derivatives legislation.

Under this guidance, CIRO will not facilitate or approve applications from dealer members to trade these specific event contracts. While prediction market trading in Canada is currently limited to economic, financial, or climate matters, regulators have determined that sports and entertainment contracts do not qualify as regulated financial products.

CSA Chair Stan Magidson stated that the notice provides “essential clarity regarding the boundaries of securities regulation.” The Canadian Gaming Association (CGA) has supported the decision, arguing that sports wagering should remain under the jurisdiction of provincial gaming regulatory systems rather than financial oversight bodies.

Entities

Canadian Securities Administrators · Canadian Investment Regulatory Organization · Wealthsimple · Alberta Securities Commission · Stan Magidson

Timeline

  1. 12 days ago

    [BUSINESS] 2 sources
    Canadian regulators exclude sports prediction markets from securities oversight

    Canadian regulators CSA and CIRO have ruled that sports and entertainment prediction markets are not securities or derivatives, leaving their oversight to provincial gaming authorities.

  2. 15 days ago

    [BUSINESS] 2 sources
    Canadian regulators exclude sports and entertainment event contracts from securities oversight

    Canadian securities regulators announced that prediction market contracts based on sports and entertainment should not be governed by securities or derivatives legislation, leaving jurisdiction unclear.

Sources

casinoreports.ca · gamblingnews.com · gaming.net · moneysense.ca