Tobique First Nation launches its own prediction markets law
The Tobique Gaming Commission already regulates gambling outside Canada’s provincial & federal rules.
The hit
The Tobique First Nation in New Brunswick has enacted a Prediction Markets Act, according to SBC News, creating the Tobique Prediction Market Authority to license operators. It is the first indigenous sovereign government in North America to pass dedicated prediction markets legislation, sitting outside Canada’s federal & provincial gambling rules.
Why it matters
Canadian law has never explicitly banned prediction markets but has pushed them into a grey area through restrictions on short-term binary options. SBC News says it will be interesting to see whether Tobique sets a precedent for other First Nations to follow with their own rulebooks.
The record
| Population | Fewer than 3,000 community members (2025 census) |
|---|---|
| Gaming Commission founded | Tobique Gaming Act, 2023 |
| New authority | Operates as a separate entity from the Tobique Gaming Commission |
| Advisory partner | CL Specialist Projects Limited, led by director Cliff Lewin |
What happens next
Watch for operators seeking permits from the Tobique Prediction Market Authority & for whether other First Nations in Canada move to set up similar frameworks.
Sources: First indigenous prediction markets law launches in Canada
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