Former TMU student preparing to launch new platform for making predictions

A former Toronto Metropolitan University (TMU) graduate from the class of 2020 is in the process of developing a prediction exchange platform that conforms to Ontario’s regulations as the popular platform Polymarket faces a two-year suspension.

Prediction markets function by allowing users to trade contracts based on whether a specific outcome will occur by a specified date. These markets have gained traction, especially among young individuals, prompting a TMU graduate known as MJ to create the Toronto Prediction Exchange (TPX). MJ emphasizes the importance of adhering to regulations rather than imposing bans on such activities.

MJ has engaged with the Ontario Securities Commission (OSC) to establish the TPX as a regulated exchange that operates with Canadian currency. This initiative aims to provide a legitimate avenue for individuals to participate in prediction markets, unlike the current scenario where platforms like Polymarket are prohibited in Canada due to concerns about manipulation and ethical considerations.

Despite being outlawed in Canada because they are categorized as binary options, prediction markets have flourished in the United States, with trading volumes skyrocketing from less than US$100 million monthly in 2024 to over US$13 billion per month in 2025. The TPX website was recently launched, offering a virtual prediction market experience with no monetary stakes.

MJ stresses the importance of risk management and transparency in TPX, highlighting the collaboration with data scientists and researchers to develop algorithms that can detect unusual activities and market manipulations. He warns against underestimating the competition in the prediction market field, emphasizing the expertise and resources required to succeed.

TPX aims to provide a safe environment for Canadians to engage in prediction markets, appealing to the interest expressed by students like Michel Tadros and Sebastian Kokalov. Tadros finds prediction markets enjoyable and anticipates that his peers would also be keen on participating if legalized. Kokalov suggests that prediction markets empower individuals to explore unconventional ways of earning money and exerting control over their financial decisions.

While platforms like Polymarket and Kalshi attract users with diverse predictions, TPX intends to focus on offering traditional products centered on economic indicators. MJ underscores the importance of providing contracts that are not susceptible to manipulation or insider trading, emphasizing the platform’s commitment to ethics and legality.

Although the ethics of prediction markets remain a point of contention, their popularity among young users is on the rise. MJ underscores the significance of regulatory oversight to curb illicit activities and protect younger users who may be vulnerable to exploitation. He believes that with effective regulations in place, the broader society can benefit from a safer and more transparent prediction market environment.