Canada narrows dealer event contracts as VerdX seeks regulated launch
Casino.org reports Canada's investment regulator CIRO updated its terms to prohibit dealer event contracts tied to sports, entertainment and political outcomes, leaving only economic, environmental and financial contracts with a minimum 30-day maturity. Polymarket has still recorded more than 500,000 dollars on the Toronto mayoral election, and a team led by former Vanguard Canada CEO Atul Tiwari has applied to launch a regulated Canadian platform called VerdX.
Canada’s investment regulator, CIRO, has revised its terms to bar dealers from offering event contracts linked to sports, entertainment and political outcomes, according to Casino.org. The changes restrict the categories available through dealers while retaining a maturity requirement for permitted contracts.
Permitted contracts face a 30-day minimum
According to Casino.org, only economic, environmental and financial event contracts remain permitted under the updated terms. Those contracts must have a minimum maturity of 30 days.
The scope matters: the reported restrictions apply to dealer event contracts. The material provided does not establish a broader prohibition on all Canadian participation in prediction markets.
Political activity continues as a Canadian applicant emerges
Casino.org reports that Polymarket has nevertheless recorded more than 500,000 dollars on the Toronto mayoral election. That activity sits alongside CIRO’s exclusion of political outcomes from permitted dealer contracts; it does not establish that those contracts qualify under the revised terms.
A team led by former Vanguard Canada CEO Atul Tiwari has also applied to launch VerdX, a regulated Canadian platform, according to Casino.org. The reported application is a separate development from an approved launch.
What it means for prediction markets
- Category limits: Sports, entertainment and political outcomes are excluded from dealer event contracts under CIRO’s updated terms.
- Contract duration: The remaining economic, environmental and financial contracts must meet a minimum 30-day maturity.
- Activity versus permission: Polymarket’s Toronto mayoral election activity is evidence of trading, not of eligibility under CIRO’s dealer rules.
- Application status: VerdX is a proposed regulated Canadian platform; the supplied reporting establishes an application, not approval.
Sources & attribution
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