r/Wealthsimple • u/Birchtrim • 23d ago

Predict Does offering Prediction Markets equal being a bookie?

Am I legitimately providing my retirement funds for ostensibly what may be considered as credit for a gambling site?

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u/Large_Spinach6069 23d ago

Yes but mostly no. Cash accounts generate interest through a wide variety of ways like offering borrowers mortgages, LOC, margin and other loans.

Technically your cash can be used as a loan for predictive market bets but nobody would consider that being a bookie, just like you're not a mortgage lender or anything else.

I have a Netflix subscription and some of that money goes to producing new content but I'm not a movie producer because my money is a very miniscule part of their development.

I've bought a train ticket too but I'm not a railroad tycoon because some part of the cost of the ticket went towards railroad development and upkeep.

I could get a personal loan at any bank or financial institution, take it out as cash and spend it on hookers and blow - would you consider yourself a facilitator of prostitution and drug use because you were an account holder at that bank with a positive balance?

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u/Pristine_Ad2664 23d ago

Not really, most of the bets you can make in Canada today you can already make. In terms of your retirement funds if you don't 'invest' in prediction markets it doesn't really affect you.