By SectorWire desk ·
The Canadian Securities Administrators and Canadian Investment Regulatory Organization issued updated guidance on Thursday. The guidance confirmed that Canada prohibits sports and entertainment event contracts.
Updated Canadian regulatory guidance confirms that sports and entertainment event contracts are prohibited in Canada.
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Canada’s regulatory stance concerns suppliers offering sports prediction markets in the country.
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.
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.