Wealthsimple partners with Kalshi to launch prediction markets in Canada

BlockBeats News, June 18th, Toronto-based online financial services platform Wealthsimple Inc. partnered with prediction market Kalshi to launch its new trading product, allowing Canadian users to bet on real-world events. Wealthsimple plans to introduce a standalone app called Wealthsimple Predict, which will offer users access to nearly 4000 contracts traded on Kalshi. Wealthsimple is set to launch the standalone Wealthsimple Predict app later this summer but has not disclosed a specific release date.

Contracts available to Canadian users will be limited to categories allowed under CIRO rules, including economic indicators, financial markets, and climate-related events, excluding contracts related to sports outcomes or elections. Additionally, Wealthsimple Predict will only offer event contracts with a duration of 30 days or longer.