British Columbia’s Independent Gambling Control Office said on August 28, 2026, that contracts linked to sports and entertainment outcomes are gambling products under provincial law. The products must comply with Canada’s Criminal Code and British Columbia gaming legislation.

The warning covers prediction-market contracts that pay based on the result of a sporting or entertainment event. It followed guidance issued on August 27, 2026, by the Canadian Securities Administrators and the Canadian Investment Regulatory Organization.

In British Columbia, the regulator says the contract’s label does not determine its legal status. The product structure, underlying event and operator’s authority are central.

What the position means in B.C.

The Independent Gambling Control Office regulates commercial gambling, horse racing and responsible-gambling programs in British Columbia under the province’s Gaming Control Act and related regulations.

The British Columbia Lottery Corporation is the only entity authorized to conduct and manage commercial gambling for the provincial government.

PlayNow.com, operated by BCLC, is identified as the province’s only regulated commercial online gambling website. The platform offers sports betting, casino games, lottery products and poker under British Columbia rules.

The Independent Gambling Control Office said online gambling websites that accept players in British Columbia outside that framework operate illegally in the province. That includes sites offering sports or entertainment event contracts.

Why securities rules do not apply

The Canadian Securities Administrators and the Canadian Investment Regulatory Organization said sports and entertainment event contracts should not be regulated under securities and derivatives legislation.

The Canadian Investment Regulatory Organization also said it would not consider it appropriate for dealer members to facilitate those contracts or seek approval to trade them.

The regulators did not rule on every type of prediction contract. They said the status of other event-contract categories remains under review.

Contracts that qualify as securities or derivatives must still comply with applicable registration, trading and investor-protection rules.

Separate regulators and responsibilities

  • Independent Gambling Control Office: regulates gambling, horse racing and responsible-gambling programs in British Columbia.
  • British Columbia Lottery Corporation: conducts and manages commercial gambling for the provincial government.
  • Canadian Securities Administrators and Canadian Investment Regulatory Organization: oversee securities and investment-dealer activity, including event contracts that fall within securities or derivatives law.

The distinction affects both operators and consumers. A product marketed as a financial contract may still fall under British Columbia gambling law.

What consumers need to know

The regulator advised people in British Columbia to use PlayNow.com for regulated online gambling. Accessing an offshore or privately operated prediction-market site from inside the province does not make the service legal under provincial rules.

The August 28 statement adds a province-specific layer to Canada’s developing prediction-market framework. Securities regulators have drawn a boundary around sports and entertainment contracts, while British Columbia’s gambling regulator says those products must fit within the province’s gambling system.