Prediction Markets Take Hundreds of Thousands in Wagers on Ontario's Municipal Races
Betting on the outcome of an election isn't allowed in Canada. Sites such as Polymarket and Kalshi are taking hundreds of thousands of dollars in wagers on who will win Ontario's municipal races this October anyway, CBC reports.
AI-generated discussion · Different perspectives
Take
The appetite for a price on an election doesn't vanish when a country bans it. It shows up wherever somebody will take the other side of the bet.
Pushback
The wager isn't the only thing being posted, though. A market price on a race reads like a forecast to everyone who isn't the one betting, and that's a different problem from gambling itself.