I hate them calling it prediction markets. We have words for this acivity and related pathologies too.

Yeah, I wasn't expecting this level of sleaze from Wealthsimple, but in the end they are a mix of tech-bros and bankers so I shouldn't have been surprised.

I’ve never unsubscribed so hard in my life. I used to trust them with robot investing but now I do it all myself.

They were smart to get one of the country’s best credit card programs otherwise I’d probably have jumped ship for a more predictable boring option like questrade.

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.

This has me genuinely looking at a local credit union. I left RBC for WS because I didn't want to pay a monthly fee and they made investing in ETFs easy. But operating actual unironic not-shitting-you gambling services cannot end well.

I'm not surprised to hear of their continued moral degradation given how thoroughly they shilled for crypto back in the day. That alone probably gave some late rug pullers enough of a boost to get out unscathed.