Wealthsimple to Launch Prediction Markets Trading App

Wealthsimple has announced the upcoming launch of Wealthsimple Predict, a dedicated mobile app that will allow Canadian retail investors to trade prediction markets. Currently in beta, the app is expected to roll out this summer.

The app will initially provide access to nearly 4,000 event contracts from Kalshi, the leading U.S.-based predictions exchange. These contracts will cover categories authorized by Canadian regulators: economic indicators, financial markets, and climate. Wealthsimple has applied its own listing standards to determine which contracts are offered.

“Prediction 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,” said Brett Huneycutt, co-founder and chief product officer at Wealthsimple. He noted that Canadians have had limited access to such markets until now, and the new app aims to provide a clean, well-designed experience with built-in education and safeguards.

Prediction markets allow users to trade on the outcome of yes-or-no questions about real-world events. For example, a contract might ask whether Canada's inflation rate will rise in Q3. The contract settles at $1 if the answer is yes, or $0 if no. The current trading price reflects the market's implied probability — a $0.70 price suggests a 70% chance of a yes outcome. Clients can buy or sell contracts before settlement, allowing them to adjust positions as new information emerges.

To start trading, new clients must complete a Know Your Client (KYC) process, consistent with standard self-directed brokerage account requirements. The app includes educational features at each step, such as a guided orientation for the first trade, plus disclosures on trading risk, contract resolution, liquidity risk, and the ability to sell positions at any time.

In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, regulated as futures contracts. The approval covers contracts with a settlement period of 30 days or longer in the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive such approval from CIRO.

Wealthsimple, which began with low-fee managed portfolios and launched Canada's first commission-free stock trading in 2019, now serves more than four million Canadians across chequing and savings accounts, tax filing, credit cards, and business banking.