Is Polymarket Legal in Canada? The Ontario Ban

Last updated: October 2, 2026. Reviewed quarterly.

Is Polymarket legal in Canada? Not in Ontario, where an Ontario Securities Commission (OSC) settlement bars its operators. Polymarket also now blocks new trades in Alberta, British Columbia, and Quebec. Elsewhere in Canada, it has no securities regulator approval at all. In short, no province has approved it.

That answer surprises people, because Polymarket still looks open and busy. Below, we explain what the OSC actually did, which provinces the restrictions cover, and what that means for you.

What Did the OSC Order Against Polymarket’s Operators?

On April 17, 2025, the Capital Markets Tribunal approved a settlement between the OSC and Polymarket’s operators, Blockratize Inc. and Adventure One QSS Inc. The OSC found that they offered binary options to Ontario investors from June 2020 to May 2023. Canada’s Multilateral Instrument 91-102 has banned those products since 2017.

The financial terms were modest next to the platform’s size. The operators agreed to:

• a $200,000 administrative penalty,
• a voluntary payment of US$22,966.75,
• $25,000 toward the OSC’s investigation costs.

The non-financial terms matter more. Each operator accepted two-year bans on taking part in Ontario’s capital markets and on acting as a registrant or promoter. They also gave an undertaking to prevent Ontario residents from using Polymarket.

Some outlets call the Ontario ban “permanent.” The Tribunal’s own summary, however, describes two-year bans, which run to April 2027, alongside that open-ended undertaking. We rely on the primary source here.

Is Polymarket Legal in Canada Outside Ontario?

No province has approved it. Polymarket holds no Canadian Securities Administrators (CSA) registration, no Canadian Investment Regulatory Organization (CIRO) authorization, and no provincial gaming licence.

Its own geographic restrictions have also tightened. Polymarket’s documentation lists Ontario, Alberta, British Columbia and Quebec as “close-only” regions. In those provinces, users can close existing positions but cannot open new ones.

Province	Polymarket status	Background
Ontario	Close-only	OSC settlement, April 2025
Alberta	Close-only	Terms update, July 6, 2026
British Columbia	Close-only	Terms update, July 2026
Quebec	Close-only	Terms update, July 2026
Other provinces and territories	Not on the restricted list	No Canadian approval

The Alberta move came one week before the province opened its regulated iGaming market on July 13, 2026. Polymarket did not explain the change publicly. Alberta’s minister, Dale Nally, said that Polymarket “made the decision themselves to geo-fence themselves out.”

However, absence from a restricted list does not equal permission. On April 2, 2026, the CSA and CIRO issued a joint notice. It warned that anyone offering event contracts that qualify as securities or derivatives must meet registration requirements. Moreover, it added that failure to comply “may lead to enforcement action.”

So, is Polymarket legal in Canada in the provinces where it has not been restricted? Nobody has approved it there, and regulators have said enforcement remains possible.

Does the Ontario Ban Make It Illegal for You to Trade?

The sanctions fell on the operators, not on users. Our guide on whether prediction markets are legal in Canada explains why. The binary options ban and CIRO’s framework apply to firms that offer the products.

That does not make Polymarket safe, however. Three practical risks remain:

• No Canadian protection. There is no dealer, no complaints route through CIRO, and no investor protection fund.
• Account risk. Polymarket can restrict accounts in blocked regions. Workarounds can also freeze balances, and we will not explain any of them.
• Thin odds of winning. A 2026 study of 1.4 million Polymarket users found that about 71 percent finished in the red. Meanwhile, the top 1 percent captured 84 percent of gains.

Whether you face other legal exposure depends on your province and circumstances. If that matters, ask a securities lawyer rather than relying on a blog. Likewise, if you hold an old Polymarket position in a blocked province, check its current terms before acting.

What Can Canadians Trade Legally Instead?

Two CIRO-authorized dealers currently offer event contracts. Wealthsimple Predict launched on July 29, 2026, with contracts sourced from Kalshi. Interactive Brokers Canada offers ForecastTrader contracts through ForecastEx.

Both come with real limits. Regulators cap contracts at economic indicators, financial markets and climate, each with a minimum 30-day term. As a result, the sports and election markets that made Polymarket famous are simply not available.

A third firm has applied. VerdX, led by a former Vanguard Canada executive, filed for dealer registration on October 1, 2026. Yet an application is not an authorization, and the firm has given no timeline.

For the full rulebook behind these limits, read our guide on whether prediction markets are legal in Canada.

Where Does PredictX Fit in All This?

PredictX Markets Inc. is a Canadian company that builds prediction market technology for licensed operators, rather than a consumer platform. We do not run a market you can trade on, and nothing in this article is a product offer.

The Polymarket case shows why we build the way we do:

• Peer-to-peer matching. Participants trade against each other, and the platform earns a commission on matched trades rather than profiting from losses.
• Operator-held funds. Player balances stay with the licensed operator. The technology layer calculates and settles; it does not custody anyone’s money.

We also publish this blog, since platforms that are selling something answer most questions about prediction markets in Canada. Join The Briefing by PredictX for regulatory news without that bias.

Polymarket in Canada: Frequently Asked Questions

The Ontario ban

Is Polymarket legal in Canada? Not in Ontario, and no province has approved it. An April 2025 OSC settlement bars its operators from Ontario’s capital markets for two years, and Polymarket has no CSA or CIRO approval anywhere in Canada.

Why was Polymarket banned in Ontario? Its operators offered binary options to Ontario investors between June 2020 and May 2023. Canada has prohibited those short-term, fixed-payout contracts since 2017.

Is the Polymarket ban in Ontario permanent? The Tribunal’s summary describes two-year bans, which run to April 2027. The operators also undertook to keep Ontario residents off the platform, and that undertaking has no stated end date.

Using Polymarket from Canada

Can I still use Polymarket in Alberta, BC or Quebec? Only to close positions you already hold. Polymarket’s documentation lists those provinces, along with Ontario, as close-only regions.

Can I use a VPN to access Polymarket in Canada? We do not recommend it. Bypassing a geographic block breaches the platform’s terms and can put your balance at risk. It also gives you no Canadian protection.

What is the legal alternative to Polymarket in Canada? Wealthsimple Predict and Interactive Brokers ForecastTrader. Both restrict you to economic, financial, and climate contracts.

The Bottom Line

So, is Polymarket legal in Canada today? No province has approved it, Ontario bars its operators until at least April 2027, and four provinces now allow only closing trades. Therefore, if you want a lawful route, use a CIRO-authorized dealer and accept its narrower menu.

This article is educational and is not legal, tax, or investment advice. Confirm the current position with the regulator or a qualified professional before acting. If gambling or trading is causing you harm, call ConnexOntario at 1-866-531-2600 or visit connexontario.ca.

Want the full picture? Read the complete guide, Prediction Markets in Canada: Everything You Need to Know.