Polymarket is banned in Ontario but there’s more than US$400K wagered on Toronto’s mayoral election - CP24
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Published: October 20, 2026 at 6:04a.m. EDTBetting on the outcome of elections is illegal in Canada but there is still more than US$400,000 wagered on who will become the mayor of Toronto on a prediction platform that is currently banned in Ontario. As of late Monday afternoon, approximately US$426,000 had been wagered on the outcome of the Toronto mayoral election on Polymarket. Polymarket, it should be noted, is currently serving out a two-year ban in Ontario after its former and current operators were found to have violated the province’s security law in April 2025. On Kalshi, another prediction market platform, more than US$46,000 had been wagered on who will win the mayoral election on Oct. 26. Users can also bet on other election outcomes throughout Ontario. For the Mississauga election more than $24,000 had been wagered as of Monday afternoon. Polymarket and Kalshi both allow traders to buy and sell binary “yes” or “no” contracts speculating on the outcome of real-world events, including elections.
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