Kalshi has expanded its prediction market operations to Canada through a new partnership with Wealthsimple. Simultaneously, a significant draw during the World Cup resulted in substantial financial shifts for traders on the Polymarket platform.
On 18 June, Wealthsimple launched its Wealthsimple Predict application, enabling users to access approximately 4,000 event contracts provided by Kalshi. This integration marks the second time a Canadian investment dealer has received regulatory approval for prediction markets, following Interactive Brokers in 2025. The Canadian Investment Regulatory Organization (CIRO) authorized the service in March, permitting contracts with a settlement period of 30 days or longer.
While the regulatory approval covers financial markets, climate data, and economic indicators, local rules currently prohibit sports and election contracts. Kalshi, which holds federal authority from the US Commodity Futures Trading Commission, now operates across 140 countries. Brett Huneycutt, co-founder and chief product officer at Wealthsimple, stated that "prediction markets are the fastest-growing segment of global financial markets." He added that the new service provides Canadians with a streamlined method to access these sectors.
World Cup Trading Activity
Activity on Polymarket saw high volatility following the World Cup match between Spain and Cape Verde. The game ended in a 0-0 draw, a result driven by a strong performance from Cape Verde goalkeeper Vozinha. This outcome caused a specific trader to lose nearly $1 million within 24 hours.
The individual had staked $999,068 on a Spain victory, a position that would have yielded a payout of $1.09 million.
Conversely, other market participants profited from the match result. A user identified as "fishalive" secured a $4.7 million win on a $400,000 wager. This trade was based on the prediction that Spain would fail to defeat Cape Verde, a scenario that carried pre-match odds of 9%.