Is it currently legal to run a for-money prediction market in Canada? I assume the answer is "no," but I was surprisingly unable to find a clear ruling anywhere on the Internet. All I can find is this article which suggests that binary options (which probably includes prediction markets) exist in a legally nebulous state right now.

I think you are misreading the article. I think that it is saying that betting on financial markets is heavily regulated. The whole reason those sites exist is avoid claiming to give access to financial markets. At one point the SEC(?) negotiated a deal with Intrade that it could have American customers in return for not offering financial bets. Sports betting websites are much less lightly regulated and I'm pretty sure political prediction markets are legal.

Why do you ask? What does it matter where a market is located? As that article shows, the Canadian ... (read more)

Open thread, Feb. 06 - Feb. 12, 2017

by MrMind 1 min read6th Feb 2017115 comments


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