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Canada has banned some prediction markets. Wealthsimple is showcasing them anyway
(www.nationalobserver.com)
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this post was submitted on 04 Aug 2026
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I always knew they were into this kind of thing considering how much they shill for crypto, private equity, direct indexing, leverage, option trading… literally every product offered beyond the basic ability to buy ETFs is a scam. The financial industry is by and large financed by scams. We had old school scams like selling trash mutual funds to retirees (TD style), and we have new scams like Private Equity where you get "exclusive" access to trash mutual funds. And now instead of getting people addicted to gambling with stock options, they are straight up aiming for regular gambling with prediction markets.
I'm disappointed but not really surprised. If anything, I'm thankful they made it a separate App instead of shoving it into the main Wealthsimple App, at least for now.