# Is Polymarket Legal in Canada? Kalshi, Polymarket and the Provinces

Kalshi's agreement restricts its event contracts in all of Canada, Polymarket limits four provinces, and Canada's securities regulators have recognised no prediction market. Province by province, with Ontario's 2025 order.

Canonical URL: https://vultax.com/research/prediction-market-legality/canada
Author: [Vultax Research Team](https://vultax.com/editorial-policy#who)
Published: 2026-10-30
Last public revision: 2026-10-30

AI-assisted drafting, research and editing. Published by OmniOS OÜ. [How we use AI](https://vultax.com/editorial-policy#ai)

Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Describes Canadian regulatory documents and venue documents as read on 30 October 2026. The Ontario order binds Polymarket's operators, not its users, and a place a venue does not list is not one where it is permitted. Nothing here is legal or financial advice.

## Key figures

- Prediction markets recognised or registered in Canada: 0 — As the Canadian Securities Administrators and CIRO said on 2 April 2026; Vultax found no later recognition
- Provinces where polymarket.com is close-only: 4 — Alberta, British Columbia, Ontario and Quebec in the developer documentation; the help page calls them blocked
- Kalshi event contracts: Restricted — Canada is on the list in section VI of Kalshi's member agreement, version of 1 October 2026
- Ontario penalty for Polymarket's operators: C$200,000 — Capital Markets Tribunal order of 17 April 2025, plus C$25,000 costs and a US$22,966.75 voluntary payment

<a id="short-answer"></a>
## The short answer

No prediction market is recognised as an exchange or registered as a dealer in Canada. The Canadian Securities Administrators and the Canadian Investment Regulatory Organization said so on 2 April 2026, and Vultax found nothing since that changes it.

The venues' own documents reflect that. Kalshi's member agreement lists Canada among the places where trading its event contracts is restricted. Polymarket's developer documentation lets people in Alberta, British Columbia, Ontario and Quebec only close positions on polymarket.com; its help page goes further and calls those four provinces blocked. Polymarket US is built for US residents.

Canadian law then splits by subject. Since 27 August 2026 securities regulators treat sports and entertainment contracts as gambling, leaving them to the provinces' gaming regulators, while economic, environmental and financial contracts can reach Canadians only through a regulated Canadian dealer. Elsewhere, a place a venue does not list is not a place where it is permitted.

<a id="venues"></a>
## Kalshi, Polymarket US and polymarket.com in Canada

Read 30 October 2026. A row says what a regulator or a venue's own document states; "not listed" is not permission.

| Product | What applies in Canada | Source and date |
| --- | --- | --- |
| Kalshi event contracts | Trading restricted for the whole country under Kalshi's own agreement; a CIRO-regulated dealer may offer Canadians some economic, environmental and financial contracts from US-regulated exchanges | Kalshi member agreement, 1 October 2026 version; Staff Notice 91-307, 27 August 2026 |
| polymarket.com (international) | Close-only in Alberta, British Columbia, Ontario and Quebec in the developer documentation, blocked in the help page; other provinces and the territories not listed | Polymarket documentation and help page, read 30 October 2026 |
| Polymarket US (QCX exchange) | Described by its own documentation as built for US residents; no Canadian action naming it found | Polymarket US documentation, read 30 October 2026 |

[CSV](https://vultax.com/research/prediction-market-legality/canada/data.csv?dataset=venues-table), [JSON](https://vultax.com/research/prediction-market-legality/canada/data.json?dataset=venues-table)

<a id="provinces"></a>
## Province by province

Securities are regulated by each province and territory, and legal gambling is run or licensed by them under the federal Criminal Code, so the position can differ across the country. The table shows polymarket.com's developer documentation and the provincial actions Vultax found.

Kalshi's agreement restricts its event contracts in every row. Venue column from Polymarket's developer documentation, read 30 October 2026; actions as found on 30 October 2026. "No action naming a venue found" is not permission.

| Province or territory | polymarket.com | Provincial action Vultax found |
| --- | --- | --- |
| Alberta | Close-only | No action naming a venue found |
| British Columbia | Close-only | The Independent Gambling Control Office said on 28 August 2026 that sites offering sports or entertainment event contracts to BC players operate illegally; it named no venue |
| Manitoba | Not listed | No action naming a venue found |
| New Brunswick | Not listed | No action naming a venue found |
| Newfoundland and Labrador | Not listed | No action naming a venue found |
| Nova Scotia | Not listed | No action naming a venue found |
| Ontario | Close-only | Capital Markets Tribunal order of 17 April 2025 approving the Ontario Securities Commission's settlement with Polymarket's operators |
| Prince Edward Island | Not listed | No action naming a venue found |
| Quebec | Close-only | No action naming a venue found; the AMF's prediction-markets page could not be read |
| Saskatchewan | Not listed | No action naming a venue found |
| Northwest Territories | Not listed | No action naming a venue found |
| Nunavut | Not listed | No action naming a venue found |
| Yukon | Not listed | No action naming a venue found |

[CSV](https://vultax.com/research/prediction-market-legality/canada/data.csv?dataset=provinces-table), [JSON](https://vultax.com/research/prediction-market-legality/canada/data.json?dataset=provinces-table)

<a id="ontario"></a>
## Ontario's 2025 order against Polymarket's operators

On 17 April 2025 the Capital Markets Tribunal approved a settlement between the Ontario Securities Commission and Blockratize Inc. and Adventure One QSS Inc., the companies behind polymarket.com. In it the companies admitted that between June 2020 and May 2023 they breached Ontario securities law by offering Ontario residents binary options, the yes-or-no event contracts on Polymarket, contrary to the ban in Multilateral Instrument 91-102. Polymarket's terms have said since 23 December 2024 that Ontario residents may not trade.

The order bars the two companies from trading in securities or derivatives for two years from the order, except to let Ontario residents close existing positions, and imposes a C$200,000 administrative penalty and C$25,000 in costs on top of a US$22,966.75 voluntary payment. Separately, the companies gave an undertaking to keep those terms and to maintain restrictions preventing Ontario residents' access; its duration is set by the undertaking, not by the two-year order. Vultax found no later variation of the order.

<a id="regulators"></a>
## What Canada's regulators have said

- No recognition - On 2 April 2026 the CSA and CIRO said no prediction market had been recognised as an exchange or registered or exempted as a dealer, and pointed out that short-term binary options are banned for individuals in some provinces.
- Sports and entertainment are gambling - Joint Staff Notice 91-307 of 27 August 2026 says contracts on sports and entertainment outcomes should not be regulated as securities or derivatives, which leaves them to provincial gaming law.
- A dealer route for some contracts - The same notice lets CIRO-regulated dealers offer a limited set of economic, environmental and financial contracts traded and cleared on certain US-regulated exchanges. That is access through a Canadian dealer, not recognition of the US exchange.
- Everything else is open - The BC Securities Commission said assessment of other types of event contracts, political ones included, is ongoing.
- Binary options - Multilateral Instrument 91-102 has banned short-term binary options for individuals since December 2017 in every province and territory except British Columbia, which relies on its own law; BC's notice expressly covers outcomes such as an election.
- British Columbia's gambling regulator - On 28 August 2026 the Independent Gambling Control Office said sports and entertainment event contracts are gambling in BC, that PlayNow.com is the only regulated online gambling site, and that other sites taking BC players operate illegally.

<a id="what-it-means"></a>
## What this means if you are in Canada

- Kalshi - Its own agreement restricts trading its event contracts from Canada. A regulated Canadian dealer may offer some of its economic and financial contracts; sports contracts are outside that route.
- polymarket.com - Close-only or blocked in the four largest provinces by its own documents, and Ontario has a tribunal order against its operators. In the other provinces and territories it is not listed, which says nothing about provincial law.
- Polymarket US - It is built for US residents and does not describe a Canadian service.
- VPNs - Polymarket's help page says using a VPN to get around location limits breaks its terms.

<a id="method-and-limits"></a>
## Method and limits

The CSA and CIRO release, Notice 91-307, the BCSC release, MI 91-102, BC Notice 2017/02, the IGCO update, the Ontario order and settlement, and the venue documents were read on 30 October 2026. The Autorité des marchés financiers' and CIRO's websites could not be read for this check, so a Quebec or CIRO statement may be missing. Vultax did not test access from any province.

This page describes legal documents; it is not legal advice. Challenge a line at research@vultax.com.

## Questions

### Is Polymarket legal in Canada?

No prediction market is recognised by Canada's securities regulators. polymarket.com's own documents restrict Alberta, British Columbia, Ontario and Quebec, and Ontario's Capital Markets Tribunal approved a C$200,000 penalty against its operators in April 2025. Not being listed elsewhere is not permission.

### Is Kalshi legal in Canada?

Kalshi's member agreement restricts trading its event contracts from Canada. Since August 2026 a CIRO-regulated Canadian dealer may offer some economic, environmental and financial contracts from US-regulated exchanges; sports and entertainment contracts are treated as gambling.

### Can I use Polymarket in Ontario?

Polymarket's documents allow at most closing existing positions from Ontario, and the 2025 settlement commits its operators to keep Ontario residents from trading.

### Are sports prediction markets gambling in Canada?

Canada's securities regulators said on 27 August 2026 that sports and entertainment event contracts should not be regulated as securities or derivatives, which leaves them to provincial gambling law. British Columbia's regulator says such sites operate illegally there.

## Sources and methodology

- [Canadian Securities Administrators and CIRO: joint news release on prediction markets (2 Apr 2026)](https://nssc.novascotia.ca/sites/default/files/docs/2026-04-02%20CSA%20NR%20-%20Prediction%20markets.pdf) — No prediction market recognised as an exchange or registered or exempted as a dealer by the CSA; copy published by the Nova Scotia Securities Commission
- [Joint CSA-CIRO Staff Notice 91-307 on event contracts (27 Aug 2026)](https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Securities-Law/Instruments-and-Policies/Policy-9/91307-Joint-CSACIRO-Notice-August-27-2026.pdf) — Sports and entertainment contracts not regulated as securities or derivatives; CIRO dealers limited to economic, environmental and financial contracts from certain US-regulated exchanges
- [BC Securities Commission: news release 2026/064 on Notice 91-307 (27 Aug 2026)](https://www.bcsc.bc.ca/about/media-room/news-releases/2026/64-prediction-markets-csa-and-ciro-provide-guidance-on-certain-types-of-event-contracts) — Says assessment of other types of event contracts is ongoing
- [CSA: Multilateral Instrument 91-102, Prohibition of Binary Options (notice of 28 Sep 2017)](https://www.osc.ca/sites/default/files/pdfs/irps/csa_20170927_91-102_binary-options.pdf) — In force 12 December 2017 in every province and territory except British Columbia
- [BC Securities Commission: BC Notice 2017/02 on binary options (28 Sep 2017)](https://www.bcsc.bc.ca/Securities_Law/Policies/PolicyBCN/PDF/BCN_2017-02__September_28__2017/) — British Columbia's own position; its description of binary options includes election outcomes
- [BC Independent Gambling Control Office: update on prediction markets (28 Aug 2026)](https://www.igcobc.ca/updates/2026-08-28/igco-update-prediction-markets) — Sports and entertainment event-contract sites accessible from BC operate illegally; PlayNow.com is the only regulated online site
- [Capital Markets Tribunal: order in Ontario Securities Commission v. Blockratize Inc. (17 Apr 2025)](https://www.capitalmarketstribunal.ca/en/proceedings/ontario-securities-commission-v-blockratize-inc/order-ontario-securities-commission-v-blockratize-inc) — Approves the settlement with Polymarket's operators, Blockratize and Adventure One
- [Capital Markets Tribunal: settlement agreement, OSC and Blockratize Inc. and Adventure One QSS Inc. (31 Mar 2025)](https://www.capitalmarketstribunal.ca/sites/default/files/2025-04/set_20250331_osc-blockratize.pdf) — Two-year trading prohibition with an exception for closing Ontario positions; C$200,000 penalty; an undertaking to keep Ontario residents out
- [Kalshi: Member Agreement, Section VI, version of 1 Oct 2026 (read 30 Oct 2026)](https://kalshi-public-docs.s3.amazonaws.com/regulatory/agreement/kalshi_member_agreement.pdf) — Kalshi's public regulatory copy; 55 places where trading event contracts is restricted, a list last changed on 22 June 2026. The venue's own policy, not a finding about local law
- [Polymarket documentation: geographic restrictions (read 30 Oct 2026)](https://docs.polymarket.com/api-reference/geoblock) — Blocked, close-only and website-only close-only lists for polymarket.com; does not cover Polymarket US
- [Polymarket Help Center: geographic restrictions (read 30 Oct 2026)](https://help.polymarket.com/en/articles/13364163-geographic-restrictions) — Updated 29 Oct 2026; headed 40 countries completely restricted but listing 41 codes, and differs from the developer documentation
- [Polymarket US documentation: what is Polymarket US (read 30 Oct 2026)](https://docs.polymarket.us/getting-started/what-is-polymarket-us) — Describes Polymarket US as a CFTC-regulated exchange built for US residents