Jul 10, 2026
Prediction markets have been gaining attention as more platforms let users wager on the outcome of everything from elections to sporting events and economic events. But most Canadians aren’t convinced they belong alongside traditional investments.
A new CIBC Investor’s Edge poll found that 74% of Canadians believe prediction markets are more like gambling than investing. More than half (57%) also said these products shouldn’t be offered on investment platforms.
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“Prediction markets are drawing more attention from the investment community, but they are also raising important questions about how these products are positioned for everyday investors,” said Luka Marjanovic, managing director and head of CIBC Investor’s Edge, in a statement.
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Canadians favour long-term investing
The survey suggests that most Canadians continue to distinguish between building wealth over time and taking short-term speculative bets.
While prediction markets have attracted headlines, only 4% of Canadians said they had participated in one over the past year. That’s similar to the share who reported trading options (5%) or cryptocurrencies (5%).
By comparison, around 88% of Canadians said they haven’t used prediction markets and don’t plan to.
When asked which approaches they believed offered the best potential for returns, respondents expressed greater confidence in more traditional investing. 57% pointed to diversified portfolio investing, while 54% chose individual stock investing. That compares with 29% for prediction markets and just 18% for sports betting.
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Many investors are becoming more cautious
The poll also found many Canadians have stayed the course despite recent market uncertainty.
Half of respondents said their investment strategy hasn’t changed over the past year. Among those who have made adjustments, three times as many said they had shifted toward lower-risk, long-term investments (24%) than higher-risk strategies (8%).
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Risk tolerance also appears relatively conservative. More than one-third of Canadians (38%) said they don’t allocate any of their investments to higher-risk assets, while another 19% said those investments make up less than 10% of their portfolio.
The results suggest that while newer investment products continue to emerge, many Canadians remain focused on diversification and managing risk.
Trust remains a sticking point
Beyond concerns about risk, many Canadians also questioned whether prediction markets are fair.
Around 69% of respondents said they believe these markets primarily benefit people with insider information rather than everyday participants.
In addition, support for stronger safeguards was also widespread. 73% said prediction markets should include consumer protections and limits if they’re made available to retail investors.
For everyday investors, speculative products may offer the possibility of quick gains, but they also come with unique risks compared to long-term investing. As more platforms introduce new ways to trade and speculate, Canadians appear to be drawing their own line between investing for the future and betting on short-term outcomes.
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Steven Brennan is a freelance finance writer based in Vancouver, BC. He holds a BA and an MA from Maynooth University, Ireland. His work regularly appears at Canadian Mortgage Trends, Lowest Rates, Loans Canada and other Canadian and US brands, while also working as a ghostwriter for financial influencers.
