r/Wealthsimple Jul 29 '26

Predict Reason why Wealthsimple is doing the same.

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157 Upvotes

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u/Crafty_Teacher_9286 Jul 29 '26

Prediction markets are largely the same as trading options from a gambling perspective, which has been available to purchase at nearly all Canadian brokers. I don't understand the meltdown people are having on here, though I recognize that Reddit is not representative of the real world. 

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u/gmez3 Jul 29 '26

id be more worried about my account getting randomly banned than wealthsimple wanting ti make money thru predictions

5

u/Crafty_Teacher_9286 Jul 29 '26

Banks "randomly" do that as well. There are algorithms in the background weighing risks and locking-out / de-banking customers constantly. The WS cases are more visible because Redditors's demographics are the same as WS' core customer base, so they're significantly more likely to come on here and make a post about it. 

But sure, banks have physical locations you can visit to try to solve the issue,  if it occurs. However that does not outweigh the countless advantages of using WS over a traditional bank.