New Brunswick, Canada, November 2, 2026. The Tobique First Nation (Neqotkuk) approved the Tobique Prediction Markets Act 2026 on October 22, establishing a licensing framework for sports, political, economic, and entertainment prediction markets, with annual permits costing €65,000.
The legislation establishes the Tobique Prediction Market Authority (TPMA), a specialized regulator operating independently of the Tobique Gaming Commission (TGC), which oversees other gambling activities under the Tobique Gaming Act 2023. The framework was announced on October 24 by the Wolastoqey community, led by Ross Perley, the elected Chief of Tobique, whose territory is located in New Brunswick.
Cliff Lewin
Operators must pay €65,000 for an annual permit, including a €5,000 preliminary assessment fee, with estimated processing times of four to eight weeks and renewal applications submitted at least three weeks before expiration. The TPMA does not impose local taxes on prediction market revenue, although it requires Know Your Customer (KYC) controls, anti-money laundering (AML) measures, counter-terrorist financing compliance, and transaction monitoring.
Platforms may use peer-to-peer contracts, order books, and automated systems, operating exclusively with approved digital assets and stablecoins, without directly holding fiat currency. Operators must also retain records for seven years, conduct annual independent reviews, and comply with cybersecurity, consumer protection, and blockchain transaction monitoring requirements.
Stan Magidson
CL Specialist Projects Limited, headed by Cliff Lewin, was appointed principal advisor to develop international relationships and business opportunities. The new framework allows contracts involving sports, esports, elections, and financial indicators but prohibits markets linked to disasters, conflicts, and loss of human life.
Meanwhile, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) maintain restrictions on certain event contracts. Stan Magidson, Chair of the CSA and the Alberta Securities Commission, explained the regulatory limitations in August 2026. Tobique's framework invokes Section 35 of Canada's Constitution Act, 1982, although its permits do not guarantee federal, provincial, or international recognition.
