B.C. says prediction-market sports bets are illegal gambling

British Columbia’s Independent Gambling Control Office said many activities offered by prediction markets amount to unregulated gambling and are therefore illegal in the province. The office said the problem is clearest when operators offer products based on sports or entertainment outcomes and allow people in B.C. to access the site.

As reported on 27 August, the Canadian Securities Administrators and CIRO had already said sports and entertainment event contracts should not be regulated under securities and derivatives law. The provincial clarification followed that joint notice and put a separate gambling-law frame around the same products.

According to Coast Mountain News, the B.C. gambling office said online gambling is only allowed through PlayNow, the regulated platform run by the B.C. Lottery Corporation. A spokesperson said in an email that any unregulated online gambling or prediction-market operator offering sports or entertainment products to users in B.C. is operating illegally in the province.

The office also said the examples at issue include products based on sports or entertainment outcomes offered on Polymarket and Kalshi. The Globe and Mail reported that federal guidance left other types of event contracts under review, so the Canadian question is not fully settled for prediction markets beyond those categories.

The federal notice has also drawn a clearer boundary for the investment industry. The Globe reported that CIRO-approved dealers are currently only permitted to offer contracts tied to economic indicators, financial markets and climate trends, not sports or entertainment. It also said CIRO does not consider it appropriate to approve or facilitate dealer-member applications to trade sports and entertainment contracts.