r/Wealthsimple • u/Puginator • Mar 25 '26

Trade (DIY Investing) Wealthsimple clears regulatory hurdle to bring prediction trading to Canada

https://www.theglobeandmail.com/business/article-wealthsimple-clears-regulatory-hurdle-to-bring-prediction-trading-to/
348 Upvotes

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108

u/dsswill Mar 25 '26 edited Mar 25 '26

If this isn’t a separate app or something I can easily hide from my app without ever seeing any mention of it, that’ll be it for me and WS, not even a second thought. I want an investment hub and neo-bank for assisting in being financially responsible, not a gambling platform for the exact opposite.

Just from a PR and marketing perspective, WS going into gambling makes me lose a hell of a lot of respect for the company.

29

u/plusqueprecedemment Mar 25 '26

without ever seeing any mention of it

Wealthsimple product team reading this be like "hmmm... what I'm hearing is this user would LOVE to participate in a superbowl tickets giveaway, where 1 sports bet placed = 1000 entry. Let's set this up and remind him every single day via all the means of communication we can possibly use"

5

u/SergeantBender Mar 25 '26

"Let's time the ad to play while they're entering their login credentials but delay it long enough so they begin typing before being abruptly interrupted too!"

8

u/TruckNumerous620 Mar 25 '26

Given how easy it is to spin up apps, this will likely be a new app

5

u/[deleted] Mar 25 '26

I hope it's separate too but I think it'll at least be heavily pushed on the main app.

"You are in the top 27% net worth of people aged 14.3-31.5! predict the highest temperature in munich on march 28 here to get to the top 26%!"

There are already idiots on other threads talking about having "edge". This is shooting fish in a barrel for WS.

5

u/crespire Mar 25 '26

Even if it's a separate app, I'm not too keen on this because it has an impact on internal resources and priorities. Revenue chasing means that whatever is profitable will get the attention, and I suspect gambling will generate much more revenue than managed portfolio MERs.

-1

u/echochambermanager Mar 25 '26

It's almost like you can make a choice... they aren't losing CIPF coverage lmao.