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Wealthsimple partners with Kalshi to launch prediction markets in Canada
BlockBeats News, June 18 — Toronto-based online financial services platform Wealthsimple Inc. has partnered with prediction market Kalshi to launch its new trading product, allowing Canadian users to bet on real-world events. Wealthsimple plans to launch a standalone app called Wealthsimple Predict, which will offer users nearly 4,000 contracts for trading on Kalshi. Wealthsimple intends to release the standalone app Wealthsimple Predict later this summer, but has not disclosed a specific launch date.
Canadian users will only have access to contracts within categories permitted by CIRO rules, including economic indicators, financial markets, and climate-related events, and will not be able to trade contracts related to sports event outcomes or elections. Additionally, Wealthsimple Predict will only offer event contracts with durations of 30 days or longer.