Wealthsimple’s new prediction markets app shows Canadian users popular markets, such as who will win the 2028 US presidential election, even if the company can’t let users bet on them due to Canadian laws. Experts suspect the approach is “teasing” Canadians in a bid they will pressure regulators to loosen the rules.
Yeah, I wasn’t expecting this level of sleaze from Wealthsimple, but in the end they are a mix of tech-bros and bankers so I shouldn’t have been surprised.
Wealthsimple/etc all exist to create exit liquidity for the hedge fund managers who have been doing automated trading long before ‘AI’.