Hundreds of thousands of dollars have been wagered on Ontario municipal races via prediction markets

In Ontario, people are placing bets on the outcomes of municipal races through platforms like Polymarket and Kalshi, despite it being illegal in Canada. These prediction markets have seen significant betting activity, with hundreds of thousands of dollars wagered on the October municipal elections. While this circumvents Canadian laws, it highlights a growing trend in political betting and raises questions about the integrity and transparency of election forecasting. This phenomenon underscores the potential for new, unconventional methods to influence public perception and electoral outcomes.