Wealthsimple’s new prediction markets app exposes gaps in Canada’s gambling protections
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.
https://theconversation.com/wealthsimples-new-prediction-markets-app-exposes-gaps-in-canadas-gambling-protections-285775Open linkView original on piefed.ca
2 replies
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.
Not disappointed because I expected no more, these companies already pray on
day tradersgamblers, they were just missing out on the latest "products" so it was a matter of time