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Wealthsimple’s new prediction markets app exposes gaps in Canada’s gambling protections (theconversation.com)
submitted 2 months ago by to c/personalfinancecanada@lemmy.ca
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Author: Jeffrey Derevensky | Professor & Chair, Educational & Counselling Psychology, McGill University

Wealthsimple is launching a CIRO-approved prediction markets app soon. The evidence suggests most traders lose money, and the products look a lot like gambling.

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[–] 13 points 2 months ago (1 child)

Honestly, I am very disappointed by Wealthsimple (and Questrade) for releasing this blight on consumer investors who are too ignorant to distinguish long-term investment from gambling.

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  • [–] 8 points 2 months ago

    Not disappointed because I expected no more, these companies already pray on day traders gamblers, they were just missing out on the latest "products" so it was a matter of time

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