Global Prediction Market Joins Forces with X Despite Ontario Ban
A surprising partnership unfolded last week as Polymarket, a prediction market platform barred in Ontario, inked a deal to become the “official prediction market partner” of X, the platform once known as Twitter. This development comes on the heels of a $200,000 fine paid to the Ontario Securities Commission (OSC) in April, reported on June 11, 2025.
This alliance raises eyebrows, especially since Polymarket has faced restrictions. Industry watchers Dustin Gouker and Steve Ruddock highlighted that the platform has been off-limits in the U.S. since 2022, following a settlement with the U.S. Commodity Futures Trading Commission (CFTC) over unregistered operations. With X boasting a massive U.S. audience, Gouker speculated,
“Polymarket might be eyeing a U.S. comeback, perhaps as a licensed entity under the current [Donald Trump] administration—a prospect that’s less far-fetched now.”
In Ontario, however, the roadblock remains steep.
The OSC imposed the $200,000 penalty, plus costs, on Polymarket’s parent companies for breaching a ban on short-term binary options aimed at individual investors. The platform is also prohibited from trading securities or derivatives for two years.
The OSC clarified that its Binary Options Ban targets products offering yes/no outcomes on future events with terms under 30 days and fixed payouts, a category Polymarket fits.
This restriction likely explains why the prediction market buzz, led by platforms like Kalshi in the U.S., hasn’t taken root in Ontario. The province’s thriving, regulated online gambling scene—home to 50 operators and over 80 platforms—offers ample legal betting options, reducing confusion for players seeking safe choices.
What this means for Ontario X users under the Polymarket partnership remains unclear. We’ll keep you posted as details emerge.
Alberta Edges Closer to Legal Online Gambling Market
Alberta’s ruling United Conservative Party (UCP) is making strides toward launching a competitive online sports betting and iGaming market, with a launch date still under wraps (a hearty Alberta beef burger to the first to guess it right, courtesy of Steve McAllister’s digital wallet).
Journalist Geoff Zochodne reported Monday that a provincial “order in council” from a week ago activated key parts of Bill 48, the iGaming Alberta Act. This legislation lays the groundwork for a market akin to Ontario’s, especially timely as Oilers fans reel from a Game 3 loss to the Florida Panthers.
More insights may surface next week at the Canadian Gaming Summit, where Minister Dale Nally of Service Alberta and Red Tape Reduction will speak. Meanwhile, Tom Nightingale from Canadian Gaming Business noted Alberta’s recent lift on bans for importing U.S. gaming equipment and alcohol.
Nally told reporters,
“This move opens doors for better trade talks ahead of the Canada-United States-Mexico Agreement renewal, boosting Alberta’s economy.”
He added,
“With Prime Minister Mark Carney resetting ties with the U.S., we’re proud to be a reliable trade partner, working with other provinces for tariff-free access.”
