Polymarket, banned in Ontario, signs deal to be “official prediction market partner” of X
In April, the parent company of the prediction market platform paid a $200,000 fine to the Ontario Securities Commission.
Late last week it was announced that Polymarket had become the “official prediction market partner” of the X (formerly known as Twitter) platform. That’s interesting news considering Polymarket is banned in Ontario.
Gambling newsletter titans Dustin Gouker and Steve Ruddock both covered the Polymarket/X marriage. As both pointed out, Polymarket has, technically, not been available in the U.S. since 2022 when the company agreed to settle charges with the U.S. Commodity Futures Trading Commission (CFTC) for failing to register.
Given the deal with X, which has a huge U.S. userbase, Gouker opined that, “It seems pretty likely that Polymarket will attempt to get back into the U.S. one way or another. Is that under the CFTC as a licensed entity? While that might have been difficult to imagine in the past, it’s less difficult to imagine under the current [Donald Trump] administration.”
In Ontario, market access appears to be much trickier for Polymarket. In April, the parent companies of Polymarket agreed to pay a $200,000 penalty, plus costs, to the Ontario Securities Commission (OSC), “for their failure to comply with the ban on offering short-term binary options to individual investors in Ontario.”
Polymarket is also banned for two years from trading securities or derivatives.
An OSC press release further explained that its, “Binary Options Ban prohibits the advertising, offering, selling or trading of options to individual investors in Ontario that contain a yes/no proposition regarding the future outcome of a price or event, have a term to maturity of less than 30 days and offer a fixed payout if the proposition is met or nothing if it is not.”
It’s likely the reason the prediction market craze sweeping the U.S. — mostly centred around Kalshi — has been a non-story in Ontario, which is home to a vibrant, open, legalized online gambling sector featuring some 50 operators offering more than 80 different platforms.
From our perspective, not allowing prediction markets to enter the sports betting space certainly makes it less confusing for consumers trying to find a legal gambling option, of which, in Ontario, there are plenty.
In the meantime, we have no idea what this will mean for Ontario users of X when it comes to the specific Polymarket partnership. Stay tuned.
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Another step taken towards Alberta’s open, legal gambling market
There’s more movement afoot by the ruling UCP government in Alberta to implement a competitive online sports betting and igaming marketplace in the western Canada province (date TBD and a Grade AA Alberta beef burger purchased by the digital wallet of Steve McAllister to the person who nails the exact date of market launch).
Covers gambling industry beat scribe Geoff Zochodne reported Monday that an “order in council” issued by the province seven days ago proclaimed that important sections of Bill 48 (the iGaming Alberta Act) took effect that day. That bill provides the legal framework for the planned igaming market in the land of Connor McDavid, Leon Draisaitl and nervous Oilers fans after Monday’s Game 3 derriere kicking by the Panthers of Florida.
As Zochodne keyboarded, by proclaiming parts of the legislation into effect, the provincial policymakers can move ahead with launching a market that’s expected to mirror pretty closely what we’ve seen shake out in Ontari-ari-ari-o.
We may hear more about Alberta’s plans a week from today when Dale Nally, the Minister of Service Alberta and Red Tape Reduction, takes to the podium at the Canadian Gaming Summit. Speaking of Nally - and Alberta - Tom Nightingale of Canadian Gaming Business passed along last Friday that the province has ended the ban on purchasing U.S. gaming equipment, and booze.
“The decision sets the stage for more constructive negotiations ahead of a Canada-United States-Mexico Agreement renewal, potentially leading to increased trade opportunities and economic growth for Alberta,” Nally said during a scrum with reporters.
“Prime Minister Mark Carney has made a clear effort to reset the relationship with the U.S. administration, and Alberta’s government supports this approach. We are focused on highlighting Alberta’s role as a responsible and collaborative trading partner and will continue working alongside other provinces to advocate for a tariff-free relationship.”
Registration is now open for the June 17-19 Canadian Gaming Summit at the Metro Toronto Convention Centre in the city below Beaverton. Register here using the code PARLEHPARTNERVIP and get 50% off your full-event pass.
Kinectify’s Derek Ramm talks AML on Gaming News Canada Show
The Canadian Gaming Association has been active for quite some time now in advocating for updates to anti-money laundering laws in our home and native land with the expansion of legal gambling. Dave Briggs addressed the topic at the beginning of the year with CGA boss Paul Burns, who said the uncertain political climate at that time most likely meant no movement until this fall.
The CGA established a committee to continue moving ahead with its efforts to update the AML rules and regulations. The chair of that committee, Derek Ramm, was our guest on a new episode of the Gaming News Canada Show. Ramm will appear on “The urgent need to modernize Ontario’s AML framework” panel with moderator Amanda Brewer, FanDuel’s Brian Terranova and Scott Hutchison of Heinen Hutchison Robitaille LLC at next week’s Canadian Gaming Summit in the city below Aurora.
You can listen to the show here, or on the various and sundry podcast apps. You can also watch it below via the GNC YouTube channel.
Worth A Watch & Listen
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Digitain appoints former William Hill International senior executive Mary Ann Calleja as its Chief Product Officer.
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Scientific Games name Lauren Higgins as Vice President, Customer Success & Strategy, and Keshav Petani as Senior Vice President, Digital Games.
Glen Herold departs Genius Sports as VP, Product, Media and Fan Engagement.
Josh Pizzie has a new title at Better Collective: Vice President – Affiliate Partnerships.
Former BD director at Data Skrive, Steve Sandmeyer comes on board at BetQL as Business & Strategy Lead, North America.
Richard Salyniuk, formerly of Rivalry, joins PENN Entertainment’s Toronto operation as Senior Product Manager, Casino Engagement.
Former TSNer Brandon Musselman has a new role with Adidas: Manager, Brand Communications Global Brands - Modular.
Friend of GNC Jamie Michaels has a new title at X: Director, Head of Brand Strategy & Creative (Americas).
Jacinda Ortiz leaves her senior communications role with the NBA’s head office to become the Vice President, Communications for the National Basketball Players Association.
Joining the newly established executive advisory team at the CEBL Brampton Honey Badgers are Leonard Brody, Ted Goldthorpe, Todd Goldstein, Andreas Johansson, Chris Kelly, Jaipaul Massey-Singh, Anita Wortzman and John Wiggins.
Classified (Jobs) Information
OLG is on a seek-and-employ mission for a Director, Cybersecurity Operations.
A Head of Operations opportunity is available at Acquire.bet.
The Alcohol and Gaming Commission of Ontario is on the lookout for a Senior Manager, Leadership & Organizational Development Programs.
Bet99 is on the lookout for a Senior Associate Lawyer.
Wanted at NorthStar Gaming: a Financial Analyst.
IGT has an opportunity for a Head of Account Management, EMEA (iGaming).
Hard Rock Digital is on the lookout for a Sportsbook Director – Regulatory, Audit & Integrity.
BetMGM is looking for a Senior Director, CRM Operations & Player Communication.
iGaming Ontario is hiring an Application Support Analyst.
There’s a Business Operations Analyst opening with FanDuel, along with a Commercial Growth Senior Analyst. The operator is also looking for a Sports Trader.
Manitoba Liquor and Lotteries are seeking a Business Solutions Architect.
And, Bet99 is searching for a Senior Data Analyst.
Wanted by Pinnacle for its offices in the city below Alliston: a Senior Front-End Developer.
DraftKings has an opportunity for a Threat Intelligence Specialist.
An expansion of the digital marketing team at BV Group has created some employment opportunities, including one in Gibraltar for a Safer Gambling Team Leader.
Conestoga College wants you. . . if you’re a Valorant and/or League of Legends coach.
Niagara Casinos is seeking a Momentum Associate.
Entain wants to bring on board a Manager, Corporate Strategy.
Sportradar is on a bit of a hiring spree for sales people at its Singapore office.
PENN Entertainment is seeking a Manager, Strategy for its Philadelphia location.
New Jersey-based Parx Casino has an opportunity for an iGaming Support Specialist.
Paysafe is in hiring mode for a Senior Talent Acquisition Partner.
There is a trio of openings at Bragg.
There’s an opening for a Head of Performance Marketing - U.S. Market.
There’s a Legal Assistant gig up for grabs at Push Gaming.
The Saskatchewan Indian Gaming Authority has an opening at Gold Horse Casino in Lloydminster for an Administrative Assistant.
Playtech is hiring a Service Desk Engineer for its business in Manchester, and a Hardware Engineer in Slovenia.
Digital Gaming Corporation has a position available for a Senior Social Media Manager.
Malta-based TheLotter is looking for a Head of Customer Support.
Gambling.com Group has a quartet of openings right now.
Smartbet is seeking a Customer Experience Quality Manager.
Front Office Sports is on the lookout for a Director, Sponsorship Sales and a Head of West (Brand Partnerships).
The Ontario Hockey League and new(ish) commissioner want to bring a Vice President, Hockey Operations into the fold.
Your Toronto Blue Jays are on alert for a Digital Marketing Specialist.
The AHL Abbotsford Canucks are searching for a Marketing Specialist.
A Senior Manager, Partnership Services (West Coast) is wanted by the Professional Women’s Hockey League.
A Director of Marketing is wanted by the Toronto Rock lacrosse franchise.
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