Until very recently, Canada has been home to just one competitive iGaming market. Ontario has offered its residents access to commercial operators since 2022, when it made...
British Columbia’s Independent Gambling Control Office (IGCO) has announced that the province will classify prediction markets as gambling products, which must be regulated under Canada’s Criminal Code and follow provincial gaming rules.
The announcement was made on August 28, 2026, one day after the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) revealed that sports and entertainment contracts can’t fall under derivatives or securities legislation. The IGCO subsequently spoke out in support of the position, stressing that activities offered by platforms like Kalshi and Polymarket constitute illegal gambling.
AN IGCO spokesperson shared:
“Products based on sports or entertainment outcomes are considered gambling by the IGCO and must be regulated in accordance with the Criminal Code of Canada and provincial gaming legislation. Any unregulated online gambling or prediction market operator that offers products based on sports or entertainment outcomes and allows users in B.C. to access their site is operating illegally in our province.”
Additionally, the Gambling Control Office reminded local users that only the British Columbia Lottery Corporation (BCLC) has authorization to offer such products, as it runs the PlayNow online gambling platform. The IGCO noted that PlayNow is the only licensed website in the province, as it meets integrity, age verification, advertising, and responsible gaming standards.
