Prediction Markets Come to Canada via Wealthsimple. What Could Possibly Go Wrong?

Wealthsimple just launched its new betting platform, but for now, Canadians can only bet on the economy, financial markets, and the weather.

So what happens when we start betting on politics?

Host Sam Konnert talks to Wall Street Journal investigative reporter Katherine Long about the wild world of Polymarket and Kalshi, the scandals that have followed them in the US, and what Canada can learn before prediction markets inevitably expand.

Host: Sam Konnert

Credits: Aviva Lessard (Senior Producer), Sam Konnert (Host/Producer), Noor Azrieh (Host/Producer), imogen sayers (Mixing and Mastering), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor), Tony Wang (Artwork)

Guests: Katherine Long

Photo: Rafael Minguet Delgado

Additional music by Audio Network

Background reading:

• #1338 Reality is a Casino as Prediction Markets Enter Canada
• Lawmakers Call for Federal Probe of Polymarket Over Deceptive Advertising – The Wall Street Journal
• We Investigated Polymarket’s Deceptive Marketing Campaign. Here’s What We Found. – The Wall Street Journal
• Think you can win on prediction markets? Here's why you're more likely to lose – CBC News
• Wealthsimple’s pivot into risky business reflects young Canadians’ financial nihilism – The Globe and Mail
• Canada has banned some prediction markets. Wealthsimple is showcasing them anyway – Canada’s National Observer
• Prediction Markets Are Good, Actually – Maclean's

Sponsors:

Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at douglas.ca/canadaland

Visit fizz.ca to learn more about Fizz mobile and its long list of added-value features, and activate a first plan using the referral code CAN25 to get 25 off and 10GB of free data.

——————

Did you know we have a monthly supporter exclusive show?

Next month on Off The Record we are back to our call-in show format. On Thursday August 27, 2026 we will be taking your calls on a new question:

What do you wish you had known when starting school or what’s a piece of advice you would give to someone starting school. Kindergarten, Middle school, High school, CEGEP, university, anything!

The call-in period will be Thursday, August 27th, 4:30-6:30 PM ET. When the time comes, head over to https://callinstudio.com/show/canadaland. You can also dial in at 1-888-401-7056.

——————

If you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.

Can't get enough Canadaland? Follow us @Canadaland_Podcasts on Instagram and @Canadaland_Media on TikTok!

Hosted on Acast. See acast.com/privacy for more information.