The app is in beta testing with a full release expected this summer.<\/p>\n
\u201cPrediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world \u2013 where inflation is headed, what happens to rates, or how the year unfolds,\u201d Wealthsimple co-founder and Chief Product Officer Brett Huneycutt said in a release.<\/p>\n
\u201cUntil now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one.\u201d<\/p>\n
Kalshi expands outside US<\/p>\n
The newest move is less about adding another product than about showing that prediction markets are becoming a broader fintech feature. Still, the partnership with Wealthsimple gives Canadian users a way to trade event contracts through a familiar local platform rather than a standalone U.S.-first exchange.<\/p>\n
\u201cWe don\u2019t know the demand specifically from our customers, but we do believe that there is a global demand for a product like this,\u201d Wealthsimple VP of Investing Products Swapnil Parikh said, per Investment Executive<\/a>.<\/p>\n Earlier this year, the Canadian Investment Regulatory Organization authorized<\/a> Wealthsimple to offer event and forecast trading. It was the second investment dealer to gain the CIRO\u2019s approval for prediction markets. The CIRO approved prediction markets only for economic indicators, financial markets, and climate.<\/p>\n \u201cKalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone,\u201d Kalshi Chief of Staff Alex Cuoci said. \u201cThat\u2019s why we\u2019re partnering with Wealthsimple, Canada\u2019s leading financial innovator \u2013 to give everyday investors in Canada access to fair, secure, and regulated prediction markets.\u201d<\/p>\n Until now, Interactive Brokers has been the only legal prediction market exchange in Canada through a partnership with ForecastEx.\u00a0<\/p>\n A cleaner international route<\/p>\n The Canadian partnership further demonstrates Kalshi\u2019s expansion of its footprint beyond the U.S. A partnership with Wealthsimple gives it a cleaner consumer route into a major market, and it may help establish prediction markets as a more normal part of retail finance rather than a purely domestic U.S. controversy.\u00a0<\/p>\n Earlier this year, Kalshi expanded into Brazil through a partnership with XP Inc. As part of a fund raise in October<\/a>, it announced the plans to expand to 140 countries.\u00a0<\/p>\n Wealthsimple is presenting the launch as part of a broader push to give Canadian users more ways to speculate on outcomes, while Kalshi gets instant access to a large, retail-friendly audience without having to build the entire Canadian front end from scratch.<\/p>\n
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