By SectorWire desk ·
Canadian financial regulators are taking a firm stance on sports prediction markets on 31 August 2026. The outlet also reported that prediction markets resembling sports bets attract customers and face court proceedings across the US.
Canada’s regulatory stance concerns suppliers offering sports prediction markets in the country.
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IGCO warns that online providers other than BCLC offering sports and entertainment event contracts to provincial players operate illegally.
CIRO considers facilitating or approving dealer-member applications to trade sports and entertainment event contracts inappropriate.
Updated Canadian regulatory guidance confirms that sports and entertainment event contracts are prohibited in Canada.
The guidance prevents platforms supervised by CSA and CIRO from offering sports and entertainment prediction contracts in Canada.
Regulatory restrictions hinder expansion of sports and entertainment prediction markets in Canada.
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.