Brokers Must Filter the Entire Product Experience
CIRO says dealers must keep unavailable contracts out of search results, recommendations and marketing, even when clients cannot trade them. Sending clients to those markets through links to third-party sites is also prohibited.
The regulator says showing such contracts could give clients the impression that they are authorised in Canada. A broker connected to a larger US exchange must therefore filter markets before they reach its Canadian interface.
The rule may also affect how brokers advertise prediction markets.
Wealthsimple’s Predict page still displays illustrative questions about an OpenAI IPO and a foldable Apple phone. Those examples do not mean the contracts are available to trade, but Wealthsimple may need to review whether they can remain in Canadian-facing marketing.
Screenshot of Wealthsimple promo page
Economic and Financial Contracts Remain Available
CIRO continues to permit selected contracts tied to economic data, environmental measurements and financial indicators. Eligibility depends on an objective way to determine the outcome, such as an official statistic or a recognised market benchmark.
The existing minimum maturity of 30 days and prohibition on leverage also remain in place. CIRO set out those conditions in its earlier guidance.
CIRO had already said in August that sports and entertainment contracts did not belong within the securities-regulated offering it authorised for dealers. The latest notice makes the restriction explicit and extends it to the way those markets are presented to clients.
Two Brokers Currently Serve the Canadian Market
Interactive Brokers Canada launched event contracts in April 2025, and became the first dealer authorised to offer those products in the country. Its Forecast Contracts trade through ForecastEx, the CFTC-regulated exchange owned by Interactive Brokers.
Wealthsimple later received authorisation and now distributes selected Kalshi contracts through its separate Predict app. Its Canadian offering is limited to approved financial, economic and climate-related markets.
As ForecastEx and Kalshi add contracts, both brokers will have to assess each new market before it enters their Canadian product feeds. Keeping an ineligible contract off the trading screen is no longer enough if clients can still encounter it elsewhere.