Lək̓ʔəŋən [LEKWUNGEN] TERRITORY / VICTORIA, B.C. — Leader of the Green Party of British Columbia, Emily Lowan, released a statement regarding the recent approval of prediction markets by the federal government and the launch of Wealthsimple Predict:
“Climate disaster is not a game and should not be gambled on like one. Approving prediction markets open the door for individuals to bet on the climate crisis.
This move is as cynical as it is dangerous. Wildfires ravage BC every year, and allowing people to bet on them is dystopic. Experts have noted the danger of giving individuals a financial incentive on the outcome of climate disasters, potentially driving individuals to start wildfires.
Prediction markets are gambling, full stop. We must regulate prediction markets, so working people are protected from these predatory corporations.
Prediction markets like Kalshi and Polymarket have been hubs of insider trading, corruption, and cruelty. Individuals have made millions gambling on war crimes, climate disasters, and experimental drugs trials.
While restrictions from the federal government prevent some of these practices, they are leaving gambling on the climate crisis unregulated. Provinces must be able to regulate prediction markets themselves, as they do with other gambling services. Without provincial regulations, prediction markets open up British Columbians to massive risks, both financial and physical.
Our future must not be gambled on.”
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