The Globe and Mail reports in its Wednesday edition that lottery companies say new restrictions on prediction markets don't go far enough, arguing that some of the trades that are allowed function more like bets than investments. The Globe's Meera Raman writes that last week, the Canadian Securities Administrators and the Canadian Investment Regulatory Organization, or CIRO, said that prediction contracts tied to sports and entertainment should not be regulated as securities or derivatives, keeping them off platforms operated by regulated investment dealers. Contracts tied to some economic, financial and environmental outcomes, however, can still be offered. While the guidance brings some clarity to the debate over whether prediction contracts should be considered investments or gambling, the Canadian Lottery Coalition says the bigger question of where investing ends and gambling begins remains unresolved. Prediction contracts still available to Canadian investors can function like gambling and should face stronger consumer protections and regulatory safeguards. Power Corp.'s Wealthsimple and Interactive Brokers have received CIRO approval for contracts involving economic, financial or climate-related events.