Wealthsimple, a Canadian fintech company, will launch a Kalshi-based prediction market app, Wealthsimple Predict, this summer.
A recent Cointelegraph report said Canadian retail investors can trade about 4,000 event contracts linked to financial markets, economic indicators and climate through Wealthsimple Predict.
Earlier, Canadian investment regulator CIRO approved Wealthsimple in March to offer prediction market contracts. Wealthsimple became the second investment dealer allowed to trade prediction markets in Canada. The contracts are regulated as derivatives and have a minimum settlement period of 30 days.
Kalshi is expanding beyond prediction markets into crypto perpetual futures. On June 18, Kalshi began trading perpetual futures products. On May 31, it announced it would enter the crypto perpetual futures market.
The expansion has faced pushback from existing derivatives exchanges. CME Group filed a lawsuit against the U.S. Commodity Futures Trading Commission on June 18. It argues the CFTC approved Kalshi and Coinbase crypto perpetual futures products after wrongly classifying them under federal law.
Chi-gyu Hwang
delight@d-today.co.kr