If your humble correspondent had put aside a loonie for every time prediction markets have been mentioned in this weekly dispatch throughout the first eight months of 2026, we would have the monetary means to treat our much, much better half to a five-star dinner at Don Alfonso 1890 in T.O. And if we had deposited in our digital wallet another loonie for every time there’d been a lawsuit filed in the U.S. involving a PM, well . . .
The past fortnight or so we’ve reached out to several parties on this side of the border to try and deliver to our loyal readers as clear as possible a look at prediction markets in Canada – today and tomorrow. They are here now, although sports, politics and elections are verboten under the regulations set by the Canadian Investment Regulatory Organization (CIRO) and the Canadian Securities Administrators (CSA, and overseers of the provincial securities commissions across the country). The Globe and Mail’s Alexandra Posadzki recently delivered a well-reported piece on the arrivals of PMs, Canadian style.
Unlike the chaos that prediction markets have unleashed in the U.S. (a phrase that rhymes with buster buck comes to mind), there appears to be a common-sense approach that will most likely lead to companies such as Wealthsimple being able to offer action around sports and entertainment. ICYMI, the financial tech/online brokerage business has released its Wealthsimple Predict app with back-end support from U.S. PM business Kalshi.
When Paul Burns joined us on a recent episode of the Gaming News Canada Show presented by Bede Gaming, the Canadian Gaming Association president/CEO pointed out that there’s a clear regulatory path regarding prediction markets here, unlike the quagmire in the U.S. involving federal and state governments, the Commodity Futures Trading Commission and, of course, the current White House administration.
Gaming News Canada reached out to several stakeholders over the past three weeks about the regulation of prediction markets. The Canadian Securities Administrators wouldn’t get into specifics about whether it has had conversations/correspondence with Wealthsimple and/or other prediction market businesses and directed us to an advisory it posted back in April with the current rules around PMs.
Our email requests to speak with someone at Wealthsimple have gone unanswered. In Alberta and Ontario, the only two Canadian provinces with regulated online gambling, GNC contacted AGLC, the new Alberta iGaming Corporation, the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario. The two Ontario agencies responsible for the province’s competitive market both passed the proverbial buck to the offices of the finance minister and the minister of tourism, culture and gaming.
From AGLC:
AGLC is committed to offering Albertans innovative choices while ensuring that operators are held to a high, regulatory standard. As the market continues to evolve, we are working with industry partners to determine where prediction markets and event contracts align with provincial gaming legislation.
Provincial regulators like the Alberta Securities Commission (ASC) retain authority over securities and derivatives activities in the province of Alberta. Alberta Gaming and Liquor Commission (AGLC) is the regulator of the Alberta iGaming Market.
Currently, prediction markets are not permitted in Alberta’s regulated iGaming Market.
The AiGC emailed GNC a statement from CEO Dan Keene:
“AiGC continues to follow conversations around prediction markets, and we look towards our regulators AGLC and ASC for any direction that may arise,” Dan Keene, CEO AiGC.
And this from the Ontario Ministry of Tourism, Culture and Gaming:
“We continue to monitor developments related to prediction markets along with reviewing the applicable legal and regulatory frameworks.
“To be part of Ontario’s regulated online gaming market, operators must enter into an operating agreement with iGaming Ontario and be registered with the Alcohol and Gaming Commission of Ontario before offering games to players.”
The CGA has met with Wealthsimple and other businesses either offering or wishing to offer prediction markets. As Burns told us on the podcast, PMs are coming and there needs to be proper regulation of them.
“What’s gone on in the U.S. is that prediction market players are building their compliance and regulatory models as they go,” he said. “It’s like building a car on the freeway.
“I’ve seen some positive signs from Wealthsimple. They’re coming at it from a better place than some of the other players in the market, but they’re one, and there will be others. That’s why we need to have standards.”
Among the issues up for debate these days is regulating the sports side of prediction markets. In a recently released white paper authored by the company’s chief legal beagle and deputy general counsel, Wealthsimple makes it crystal clear its PM product should come under the purview of securities, and not gaming, regulators.
From the white paper:
“. . . . a gaming operator taking the other side of a bet against its customer does not pose such a risk to the financial system that derivatives data reporting is required, and gaming regulation is designed for that bilateral relationship. However, as noted above, prediction markets are not “bets” against a house. They are two-sided markets that require capital adequacy, segregation of funds, clearing integrity, and market surveillance. These are financial derivative risks, which securities regulators are uniquely equipped to manage. A gaming regulator has no framework for them.
This brings us to the specific proposal that certain contracts, such as those on sports outcomes, should be assigned to gaming regulation while the rest stay under securities regulation. This is unworkable and does not reflect the structure of these contracts or markets. A contract on the outcome of a soccer match and a contract on the level of inflation are, mechanically, the same instrument. Each is a binary contract that derives its value from an underlying event, and each reaches a Canadian client through a chain of intermediaries.
The CGA’s Burns sees it differently. “Sports should remain part of the gaming regulatory regime.”
Other issues include:
Are securities commissions equipped to properly monitor/regulate putting down money on sporting events?
Will there be protections put in place for safe use of these products?
What are the parameters around this new type of gambling? Geoff Zochodne reported last week on a company called Volatility Shares that is “proposing exchange-traded funds that would invest in future contracts tied to indexes measuring NHL team performance.”
There’s been a flurry of sponsorship deals in the U.S. involving prediction market operators and the sports industry – with the NHL and MLB taking the lead. Media companies continue to yearn for new streams of advertising revenue. There are sports betting operators now offering prediction markets in the U.S. including DraftKings, FanDuel and Fanatics. Will any/all of those factors influence a race to expanded prediction markets without the necessary guardrails in Canada?
We will continue to follow the proverbial bread crumbs that drop regarding this story.
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CAMH study: Ontario youths report dramatic increase in online gambling
The Centre for Addiction and Mental Health (CAMH) is reporting that Ontario students are reporting slightly reduced rates of mental distress but, at the same time, indicated a dramatic increase in online gambling.
CAMH has conducted the Ontario Student Drug Use and Health Survey on students between grades 7 and 12 every two years since 197. The latest findings, released Monday, are from its 2025 survey and show 46 per cent of respondents reported a “moderate to serious level” of psychological distress in 2025. That’s serious, but it is down from 51 per cent in 2023.
Also down is reported alcohol and drug use. Students also reported they are waiting longer before trying alcohol or drugs.
The survey revealed, however, one in 10 students had placed online sports bets in 2025. That’s up sharply from one in 100 in 2017.
Also, almost one-quarter of students reported seeing or hearing advertising for online gambling sites every day.
About seven per cent of respondents reported betting money on gambling activities other than sports betting – such as online casinos or poker.
Finally, some 20 per cent of respondents said they had gambled in some fashion in the past year.
Lead investigator Hayley Hamilton said the increase in online gambling comes in the same time frame in which the province launched an open online market and, despite age restrictions on sites, “the students are finding a way to gamble.”
The 2025 survey included 11,108 students in grades 7 to 12 in 1,147 classes in 246 schools in 42 school boards. The students completed anonymous online questionnaires between December 2024 and June 2025.
AGCO operator fines since launch approaching $1.5 million
The latest fine issued by the Alcohol and Gaming Commission of Ontario (AGCO) had us doing some quick math. The $70,000 fine issued on Aug. 20 to Booming Games (Malta) Limited, “after prohibited auto-play functionality was made available to Ontario players on multiple slot games for several months” pushes total AGCO fines since the open market launched in April, 2022 over $1.4 million to $1.405 million.
In the last 52 months, the AGCO has issued fines to 17 different operators. It also issued a five-day suspension, but no monetary penalty, to PointsBet.
Keep in mind, some of these monetary penalties may have been reduced or eliminated in the appeals process. These figures just reflect the AGCO’s original notice of penalties being issued for a variety of offences:
Date Operator Fine
03-May-22 BetMGM and PointsBet $78,000
30-Jun-22 DraftKings $100,000
25-Aug-22 Unibet $48,000
20-Apr-23 Bunchberry, Mobile Inc., LeoVegas $70,000
20-Jun-23 BV Gaming and Fitzdares $30,000
10-Aug-23 Apollo Entertainment $100,000
09-Nov-23 PointsBet $150,000
16-Oct-24 NorthStar $20,000
26-Mar-25 BetMGM $110,000
26-Jun-25 Casino Days $54,000
07-Oct-25 theScore $105,000
08-Jan-26 FanDuel $350,000
12-Feb-26 PointsBet 5-day suspension
06-Aug-26 Betty Gaming $120,000
20-Aug-26 Booming Games $70,000
TOTAL $1,405,000
As for Booming Games, the AGCO said the violation involved an Auto-play feature which, “allows a player to automatically play an online slot machine without the player having to manually initiate each spin. Ontario prohibits auto-play on slot games because removing the need for a player to actively initiate each wager can reduce opportunities to pause, assess their play and decide whether they want to continue gambling.”
According to Canadian Gaming Business reporter Tom Nightingale, Booming Games will not appeal the fine.
Alberta’s move to a regulated iGaming model on the 13th July of this year represents a significant step forward for Canada’s digital gaming market, setting clear expectations for robust identity verification, fraud prevention and compliance from day one.
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Midnite hires former FanDueler to lead incoming Canadian business
Midnite is about to strike in Ontario.
OK, OK, perhaps a week away from the keyboard delivered a case of writer’s block. But we digress.
The UK sportsbook and casino operator wants to expand beyond His Royal Highness’s home – and Ireland – with a special focus on our home and native land. And it will do so with the help Dale Tang, who this week was named as Midnite’s general manager for Canada. Tang was a Day One’er with Dale Hooper and the gang at FanDuel Canada, leading the operator’s commercial, analytics and retention initiatives and being in the middle of FanDuel’s Alberta launch last month.
According to a news release that landed in our inbox yesterday: “Tang will lead Midnite’s Canadian market strategy, overseeing the operator’s plans to launch the brand in regulated Canadian markets, pending licensing approvals. His appointment represents an important step in Midnite’s international expansion as the company looks to build on its momentum in the UK and Ireland.”
“Dale’s appointment marks an exciting milestone in Midnite’s journey to disrupt the industry,” said Midnite founder and CEO Nick Wright. “The regulated Canadian market is a huge opportunity for us to expand beyond the UK and Ireland, and bringing Dale on board is a clear signal of our ambition to build a truly localized, next-generation sports betting and casino experience that puts player protection at the front and centre.”
From Tang, who will be based in Toronto, and before FanDuel spent three years at OLG:
“The opportunity to build something new in a market I know and care deeply about was simply too exciting to pass up. Midnite has established itself as a brand with a clear vision on how to deliver an exciting proposition for players. I’m looking forward to being a part of the team that helps establish Midnite as a responsible and trusted brand that resonates with Canadian consumers.”
According to reporting by David Bartram at Casino.org, Midnite has yet to receive its licence from the AGCO and AGLC. As of today, there are 48 operators delivering 83 online gambling websites to Ontarians and in Alberta there are 29 sports betting and igaming brands now up and running. Those numbers don’t include OLG and AGLC’s digital gaming products.
What Betty learned from meeting Canadians face-to-face this summer
For digital-first brands, some of the most meaningful player interactions don’t happen online.
This summer, Betty connected with thousands of Canadians through activations at Rock the Park, Bluesfest and sampling events across Alberta. Each event reinforced the importance of meeting people where they are, creating opportunities for authentic conversations, answering questions and introducing the brand in a more personal way.
Rather than focusing solely on reach, Betty views in-person events as an opportunity to better understand player expectations and strengthen connections that extend beyond a single interaction.
“As a digital-first brand, some of our most valuable conversations happen face-to-face,” says Andrea Stodart, Vice President of Marketing at Betty. “Meeting players at community events gives us a deeper understanding of what resonates, what questions people have and how we can continue creating experiences that feel approachable, transparent and relevant.”
As Canada’s regulated gaming market continues to evolve, those real-world conversations are helping inform how Betty approaches marketing, community engagement and the overall player experience.
Fanatics coming to Ontario
More than four years after Ontario launched an open, regulated online gambling market, big names are still choosing to enter the sector.
The latest is Fanatics. Tom Nightingale reported for Canadian Gaming Business that Fanatics has been approved by the AGCO and will enter the Ontario market after completing an operating agreement with iGaming Ontario.
Once it does, it will become the 49th operator while providing the 84th legal online gambling platform in the province.
People on the Move
Corey Goodman has the “interim” removed from his Chief Executive Officer’s title at NorthStar Gaming. Chin Dhushenthen resigns as Chief Financial Officer and Ben Powell is named interim CFO. Also, former absolutebet exec Krisztina Kalla is appointed Vice President of Compliance.
We reported a fortnight or so ago that Lindsay Slader was departing GeoComply. The former GC veep announced last week she’s joining UBank as Chief Growth Officer.
Karen Moorhouse will walk away at month’s end from her Chief Executive Officer position with the International Tennis Integrity Agency.
Ana Vrabic Verdir is appointed Group Chief Executive Officer at Hacksaw Gaming.
Francesco Rodano says arrivederci from Playtech and his Chief Sustainable Gambling Officer post.
Alon Eshed is named Chief Commercial Officer at Aloplay.
High Roller Technologies appoint Thomas Scaria as Chief Product Officer.
Eric Thomson is the new Senior Vice President of Marketing & Partnerships at Churchill Downs Racetrack.
Finnish operator names Craig Armes as Executive Vice President, Gaming Technologies.
Former FanDuel executive Fiona Power is the new Chief Commercial Officer for The Unit. Mark O’Hare is promoted to Chief Revenue Officer.
Light & Wonder promotes Stacy Phillips to Senior Vice President, Global Operations & Supply Chain.
Fanatics appoints Mike Swisher as Vice President, Media Strategy.
Taylor Gebron is promoted to Vice President, Trading at Betr.
Aristocrat Interactive appoints Alice Timson as Vice President, Aggregation.
ALT Sports Data promotes Emily Reyes to Vice President, League Solutions.
Craig Turner will leave Entain and his Head of Studio role at the end of next month.
Stephen Welch is named as Head of Advertising at iGaming News and Roxanne Harding comes on board as an Editorial Assistant.
Aiden O’Sullivan is named Head of Business Development at OpenBet.
Genius Sports appoints Alexis Zinberg as Director of Global Events and Angela Hoye as Vice President, Communications. Also, Jessie Cooper is named Senior Vice President, AI & Platforms.
Savannah Davis is the new Director of Business Operations at OpTic Gaming. Grace Tye is named Manager of Partnership Activations.
Giannis Papakonstantinou is appointed Director of Sportsbook Product at Altenar.
Pawel Blazejewicz is named AI Enablement & Adoption Lead at Continent 8 Technologies.
Allie Rask bids farewell to the Responsible Gambling Council and her Senior Program Analyst role.
Ryan Whelpley is appointed Corporate Counsel, Gaming Regulations at DraftKings. Christopher Paquin comes aboard as Financial Crimes Specialist.
Monish Bhambhani, ex of PointsBet, joins Blazesoft as a Senior Product Manager.
Neal Bellinger has a new role at Hard Rock Digital as Manager of Fraud Analytics.
Former Uber veep Travis VanderZanden joins Polymarket as Chief Growth Officer.
Robbie Middlestadt bids adieu to BetMGM and his role as Senior Digital Marketing Associate to join Google as an Account Strategist.
Former SBCer Erin Gallagher joins Press Box PR as a B2B Account Director.
Adam Kaufman is hired by USA Today to lead its sports betting coverage.
Ex-Nike director Daniel Switzer is named Vice President, Global Marketing at MLB HQ.
Classified (Jobs) Information
On the Home Front
Big gig alert at Woodbine Entertainment for a Vice President, Marketing, Brand Content and Live Experiences.
Wanted by the Responsible Gambling Council: a Director, Prevention Programs and a Senior Manager, CRM & Audience Operations.
There’s an opening at iGaming Ontario for a Senior Advisor, Strategy and Corporate Affairs.
FanDuel has an opportunity in Toronto for a Communications Senior Associate.
In Toronto, Entain is hiring an AML/ATF Compliance Officer – Canada.
The Alberta iGaming Corporation is searching for a Cybersecurity Analyst and a Junior Accountant.
The Alcohol and Gaming Commission of Ontario is seeking an Information Management Lead and a Specialist, Payroll and Benefits Administrator.
DraftKings has a spot available for a Sportsbook Operations Senior Associate.
Bet99 is looking for an Affiliate Associate.
The Saskatchewan Indian Gaming Authority is seeking a Data Analyst.
Red Bull Canada is on the hunt for a Brand Specialist, Events & Creative.
The Globe and Mail is hiring a Reporter to cover stories around the impact of artificial intelligence on the world.
Reuters has a hybrid opening in Toronto for a Sports Reporter.
There are several job postings with Bauer Hockey/Cascade Maverik Lacrosse.
The Edmonton Oilers are hiring a Team Reporter and Producer.
Wanted by the Ottawa Senators: a Senior Fullstack Developer.
True Sports is in need of a Creative Designer.
South of the Border
DraftKings has an APB out for a Vice President, iGaming Revenue Operations and is also looking for a Senior Associate, Digital Casino Partnerships.
Aristocrat is seeking a Vice President, Data Science.
ProphetX has a hybrid opportunity for a Director, Solutions Engineering.
Riot Games wants to hire in Los Angeles a Principal, Growth Lead.
BetMGM is searching for a Senior Gaming Analyst.
Hard Rock Digital is in the market for a Senior Manager – Social Media.
DraftKings is on the lookout for a Senior Associate, Digital Sports Partnerships.
In Vegas, Caesars Entertainment has an opening for a Product Compliance Manager.
Better Collective is hiring a Manager – Affiliate Partnerships, U.S.
Wanted at NBA HQ: a Senior Manager, Gaming Product & Creator Programs.
DAZN has a hybrid opportunity in New York for a Chief Editor.
Puma is searching for a Senior Director, Global Entertainment & Influencer Marketing.
In New York, Minute Media is seeking a Senior Product Manager, Consumer Growth & Fan Engagement.
Across the Ponds
Legend is looking for a Group Head of Finance.
In Sliema, bet365 has an opening for a Head of In-House Games.
NEXT.io is searching for a Director, Artificial Intelligence.
Betty has a whole bunch of openings on its London team.
Boyle Sports has a hybrid position available in Ireland for a Safer Gambling Officer.
Genius Sports has an opportunity in London for a Product Marketing Manager, Betting.
The International Testing Agency in Lausanne, Switzerland, is hiring an Intelligence Analyst.
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Reading and Reflecting
Your collegial dispatcher was Mike Eppel’s guest on the In This Economy podcast for a chin wag about the business of gambling in the true north strong and free.
On the one-month anniversary of Alberta’s new market, the AiGC delivered some thoughts and layers from head honcho Dan Keene.
There’s an update from Covers journalist Jori Negin-Shecter on the Douglas Ford government’s strategy for casinos in the Niagara region.
The August 17 King’s Plate delivered some bullish metrics on the betting side for Woodbine Entertainment including a $1.24 million win pool.
Canadian Gaming Business chronicler Tom Nightingale interviewed Pure Casino Entertainment boss Brad Belhouse about the company’s entry into Alberta’s regulated igaming market.
For now, NorthStar Gaming CEO Corey Goodman told Nightingale, the company’s business is focused on strengthening its Ontario operations.
Speaking of Nightingale, he caught up with some igaming advocates south of the border for an update on efforts to expand legal sports betting and online gaming.
Speaking of which, the never-ending chase of regulated online gaming in New York continues to be of the elusive sort with no end in sight.
In its interim Q2 report, Better Collective announced “broad-based growth” led by North America and the men’s World Cup also delivering an expected boost in revenue.
Joe Streeter of iGaming Expert caught up with Bet99 boss Jared Beber and asked him about Alberta and channelization.
Davis Giangiulio and Ananya Chetia did the double-byline thing for CNBC reporting on hedge funds joining the prediction markets maze.
Political writer David Moscrop had a Substack piece about sports betting now being used by Gen Zers as an “investment” strategy.
FanDuel is a little lighter in the digital wallet, compliments of Iowa’s gambling regulator.
Steve Ruddock, in his Straight to the Point newsletter, summarizes the ham-handed handling of prediction markets so far by the Commodities Futures Trading Commission.
A Gallup poll reveals Americans are betting less than they did a decade ago. The aforementioned Ruddock provided his own thoughts on the survey.
There’s a report now available courtesy of Taylor & Francis on “understanding funding-related bias in gambling research”.
Casino Reports journalist Brian Joseph has a five-part series looking at money laundering in Nevada.
Good reading from Covers guy Geoff Zochodne on the overwhelming number of options available in the U.S. today for sports bettors.
Speaking of worthy perusing, we recommend Marcus DiNitto’s weekly wagering roundup for Gambling Insider.
ESPN’s David Purdum had reporting on an investigation by the U.S. Horseracing Integrity and Safety Authority into unusual betting on five races in New Jersey and New York.
Luke Miller reported for The Federalist on money being spent by online gambling operators in advance of U.S. state elections.
Everton footy player has been charged with violating the UK Football Association’s betting rules.
You’ll need a subscription to read Neil Clark’s op-ed for The Spectator making the case for betting shops in the UK.
Earlier this month, the IRS put out a news release that linked illegal gambling offences to $126 million in laundered money over the past 12 months.
Fanatics is getting together with the NFL as an official sports betting partner.
Speaking of the NFL, Yahoo senior sports betting analyst has a fun read on the biggest winning wagers over the past eight years.
A second investigation has been opened into the alleged betting activity of a former Arizona Cardinals scout.
Bet365 this week unveiled its new “We know betting” marketing campaign.
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