Canadian fintech Wealthsimple is launching a standalone prediction markets app powered by Kalshi, granting retail investors in the country access to approximately 4,000 event-based derivative contracts. The Wealthsimple Predict app is scheduled to launch this summer following regulatory approval from the Canadian Investment Regulatory Organization (CIRO) in March 2026.

The app will offer contracts across financial markets, economic indicators, and climate categories. Canadian prediction market contracts are regulated as derivatives with a mandatory 30-day minimum settlement period, distinguishing them from unregulated gambling products in other jurisdictions.

Regulatory Approval and Market Expansion

CIRO authorized Wealthsimple in March 2026 to offer prediction market contracts. Wealthsimple is the second investment dealer authorized by CIRO to offer prediction market trading in Canada, signaling growing institutional acceptance of the asset class north of the border.

The launch comes as Kalshi, the prediction markets platform powering Wealthsimple Predict, has rapidly expanded its product suite. On May 31, 2026, Kalshi announced its entry into the crypto perpetual futures market. That expansion accelerated on June 18, 2026, when Kalshi’s perpetual futures products went live for trading following CFTC approval of Bitcoin perpetual futures contracts for the platform in May 2026.

Coinbase also received CFTC approval through a no-action position, allowing the exchange to expand US institutional access to global crypto derivatives markets. Kraken launched perpetual futures trading through Bitnomial, its CFTC-regulated subsidiary.

CME Challenges CFTC Classification

The regulatory expansion has triggered legal conflict. On June 18, 2026, CME Group sued the CFTC, arguing the regulator misclassified Kalshi and Coinbase perpetual futures products under federal law. CME CEO Terrence Duffy announced the company planned to challenge the approvals in court.

The dispute reflects a broader regulatory tension. Cody Carbone, CEO of the Digital Chamber, told attendees at Bitso’s Stablecoin Conference in Mexico City on June 16, 2026, that “the growing conflict between the CFTC and state gambling regulators is likely headed for the US Supreme Court.”

At least 11 US states have challenged prediction markets in recent months, creating a patchwork of state-level restrictions that complicates national rollout strategies.

International Regulatory Headwinds

Prediction markets platforms face regulatory pressure globally. Spanish regulators ordered internet providers to block access to Kalshi and Polymarket in May 2026 while investigating potential gambling law violations. Indonesia banned Polymarket after users traded contracts on President Prabowo Subianto.

Japanese crypto exchange Bitbank warned users over Polymarket-linked transfers. South Korean police reportedly investigated local users over alleged gambling violations linked to prediction markets trading.

The Canadian launch of Wealthsimple Predict demonstrates one regulatory pathway forward, establishing prediction markets as federally overseen derivatives products rather than gambling instruments. Whether that model can withstand US legal challenges remains uncertain as the CME dispute moves through the courts.