Bloomberg - Are you a robot?
Source: bloomberg.com
- Wealthsimple, a major Canadian investment app, launched a prediction market for betting on events like elections and sports.
- Canada recently legalized prediction markets, letting firms like Wealthsimple offer them to users over 19.
- This move pits Wealthsimple against US giants like Kalshi and helps it grab a slice of the fast-growing betting market.
Wealthsimple jumped into the prediction markets business right after Canada opened the door to them. The company, best known for easy stock and crypto trading, now lets users bet on real-world outcomes using its app. This shift taps into a hot trend where people wager on news events, and it could boost Wealthsimple's growth in a competitive field.