Wealthsimple is one of the fastest growing brokerages in Canada. And they want to get into the prediction market business next.

What’s happening:

  • Canadian brokerage platform Wealthsimple has entered into a new partnership with Kalshi to launch a new prediction markets app known as Wealthsimple Predict

Why it matters:‍

  • This is the first time ever that Wealthsimple has launched their own dedicated platform to give users access to prediction markets in Canada

Going deeper:‍

  • Kalshi has publicly stated that they will give Wealthsimple access to approximately 4,000 event contracts that trade on Kalshi’s prediction market exchange through Wealthsimple Predict
  • The Canadian Investment Regulatory Organization has granted Wealthsimple regulatory approval to allow Canadian residents to trade event contracts

The intrigue:‍

  • Wealthsimple currently has roughly $125B CAD in assets under administration

The fine print:‍

  • It has not yet been publicly disclosed when Wealthsimple Predict will officially launch

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