Polymarket and Kalshi in Canada
Polymarket restricts four provinces. In Ontario, British Columbia, Alberta and Quebec you can close an existing position but not open a new one. Its published restrictions list nothing for the rest of Canada. Kalshi lists Canada as a restricted jurisdiction and prohibits people there from trading.
No prediction market is recognised as an exchange or registered as a dealer in Canada, according to the Canadian Securities Administrators. Ontario's regulator settled with Polymarket's operators in April 2025 for breaching the national ban on short-term binary options.
Current status in Canada
Each row links to the regulator's or the platform's own page. We re-read every source at least every 45 days and show the date we last did.
| Platform | Status | What the source says | Checked |
|---|---|---|---|
| Polymarket | Restricted | Polymarket restricts four provinces: Ontario, British Columbia, Alberta and Quebec. It lists no restriction for the rest of Canada. Source: Polymarket geographic restrictions | Checked |
| Kalshi | Blocked | Kalshi lists Canada as a restricted jurisdiction. People living or located there are prohibited from trading event contracts. Source: Kalshi Member Agreement | Checked |
| PolymarketOntario, British Columbia, Alberta, Quebec | Close-only | Residents can close existing positions but cannot open new ones, on the website and the API. Source: Polymarket geographic restrictions | Checked |
How it got here
A joint CSA and CIRO staff notice says sports and entertainment event contracts should not be regulated under securities and derivatives law, and that CIRO will not approve its dealer members trading them. Other contract types are still being assessed. Source: Canadian Securities Administrators
The Canadian Securities Administrators and CIRO state that no prediction market has been recognised as an exchange or registered as a dealer in Canada, and that two CIRO member firms are authorised to give clients access to event contracts on foreign regulated markets. Source: Canadian Securities Administrators
Ontario's Capital Markets Tribunal approves a settlement with Polymarket's current and former operators for breaching the binary options ban between June 2020 and May 2023: two-year market bans and a $200,000 administrative penalty. Source: Ontario Securities Commission
Polymarket stops Ontario residents from buying new contracts. They can still sell and redeem existing ones. Source: Capital Markets Tribunal settlement agreement
Canadian securities regulators in every province and territory except British Columbia publish Multilateral Instrument 91-102, banning the sale of binary options with a term under 30 days to individuals. Source: CSA Multilateral Notice 91-102
Who regulates prediction markets in Canada
Securities regulators: the binary options ban
Prediction market contracts that pay a fixed amount on a yes-or-no outcome fall under rules written for binary options. Multilateral Instrument 91-102, published in September 2017, prohibits advertising, offering, selling or trading a binary option with a term under 30 days to an individual. Every province and territory adopted it except British Columbia, which issued its own notice.
The same notice records that no individual or firm is registered to sell binary options in Canada.
Source: CSA Multilateral Notice 91-102Ontario: the Polymarket settlement
The Ontario Securities Commission found that Polymarket's operators offered binary options to Ontario investors between June 2020 and May 2023 in breach of that ban. The Capital Markets Tribunal approved a settlement on 17 April 2025: two-year market bans, a $200,000 administrative penalty, a voluntary payment and investigation costs.
As part of the settlement the operators undertook to keep Polymarket's terms stating that Ontario residents are not permitted to trade. Ontario residents had been stopped from buying new contracts on 26 May 2023.
Source: Ontario Securities CommissionThe national position in 2026
On 2 April 2026 the Canadian Securities Administrators and the Canadian Investment Regulatory Organization (CIRO) reminded the industry that no prediction market has been recognised as an exchange or registered as a dealer, or exempted from those requirements. They also said two CIRO member firms have been authorised to give Canadian clients access to event contracts, including contracts on foreign regulated prediction markets. The notice does not name the firms.
Source: Canadian Securities AdministratorsSports and entertainment contracts
On 27 August 2026 a joint staff notice said sports and entertainment event contracts should not be regulated under securities and derivatives law, and that CIRO will not approve its dealer members trading them. For every other type of event contract, the regulators say assessment is ongoing.
Source: Canadian Securities AdministratorsWhat you can use from Canada
Some online casinos now run prediction markets alongside their games and sportsbook. We list one only after confirming the product is live on its site and that its terms accept players from Canada. We have verified 4 so far. These casinos operate under international gambling licences, not a Canadian one. Ontario registers private operators through the AGCO and iGaming Ontario, and a site that is not registered there is not regulated there.
Risks to know about
No prediction market is recognised or registered in Canada, so the investor protections that come with a registered dealer or a recognised exchange do not apply to an offshore platform. The regulators say non-compliance with securities law may lead to enforcement.
In the four restricted provinces Polymarket lets you close positions but not open them. Its terms prohibit any attempt to evade its location restrictions.
A casino prediction market is a gambling product. It runs under the casino's gambling licence and terms. Read how each market is priced and how it settles, because the settlement rules decide who is paid when an outcome is disputed.
Frequently asked questions
No prediction market is recognised as an exchange or registered as a dealer in Canada, the Canadian Securities Administrators said on 2 April 2026. Ontario's securities regulator settled with Polymarket's operators in April 2025 for breaching the binary options ban. Polymarket itself restricts Ontario, British Columbia, Alberta and Quebec to closing existing positions, and lists no restriction for other provinces.
Ontario residents are not permitted to trade on Polymarket. The Ontario Securities Commission's 2025 settlement requires Polymarket's terms to say so, and Polymarket lists Ontario as close-only: existing positions can be closed, new ones cannot be opened.
No. Kalshi's Member Agreement lists Canada among its restricted jurisdictions, and people living or located there are prohibited from trading event contracts. The agreement says the restriction applies to trading, not to holding an account.
Canadian regulators say two CIRO member firms are authorised to give clients access to event contracts on foreign regulated prediction markets, without naming them. They also say sports and entertainment contracts will not be approved for dealer members. Separately, some online casinos that accept Canadian players run prediction markets as a gambling product; the ones we have verified are listed on this page.
Regulators have treated them as both, depending on the contract. The Ontario settlement applied the securities-law ban on binary options. The August 2026 staff notice says sports and entertainment event contracts should not be regulated under securities and derivatives law, and that the status of other contract types is still being assessed.
Status last checked . This page reports what regulators and the platforms publish. It is not legal or tax advice. See also: Polymarket and Kalshi in Australia, all prediction market sites and the odds converter.
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