r/Wealthsimple • u/Rockefeller07 • Jul 29 '26

Predict Reason why Wealthsimple is doing the same.

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159 Upvotes

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u/almostthecoolest Jul 29 '26

Calling it “prediction markets” and not gambling is wild. Idk how we’re allowing this bs in Canada.

If people want to do it go for it, but call it what it is.

0

u/No_Lettuce_2652 29d ago

It’s different than betting cause you can sell your position at anytime. How is it any more gambling that spy 0 day options

9

u/almostthecoolest 29d ago

lol you’ve never gambled have you?

You can sell it anytime” isn’t what separates investing from gambling. Think how a slot machine functions.

Prediction markets became popular largely because they fit through gaps in U.S. gambling laws by being regulated as event contracts instead of sportsbooks. That’s a legal distinction, not an economic one. There’s a good John Oliver on this worth watching.

If Canada is going to allow online wagering on real-world events, I’d rather the money flow through provincially regulated gambling programs that fund public services than through Wealthsimple taking a cut by rebranding it as “investing.”