Prediction market trading is gambling according to B.C. regulator

B.C.’s Independent Gambling Control Office released a statement on Friday to clarify that many activities offered by prediction markets are considered unregulated gambling and are therefore illegal in the province.
This follows a federal regulator’s notice that prediction markets dealing in “event contracts, prediction contracts or prediction market contracts” should not be regulated as securities and derivatives.
The most well-known prediction markets are Polymarket and