Betting on the outcome of elections isn’t allowed in Canada — but that’s not stopping prediction market websites like Polymarket and Kalshi from taking hundreds of thousands of dollars worth of wagers on who will win Ontario’s municipal races this October.
On Polymarket, for example, close to $400,000 has been spent so far on bets about who will be the next Toronto mayor, while about $43,000 has been spent on Kalshi.
