The Globe and Mail reports in its Friday edition that Canadian securities regulators say they are considering whether further action is needed to oversee prediction markets. The Globe's Meera Raman writes that in a notice Thursday, the Canadian Securities Administrators and the Canadian Investment Regulatory Organization said they plan to issue further guidance on how securities and derivatives legislation apply to the fast-growing area of prediction market trading. The notice comes on the same day The Globe reported that flyers promoting U.S. platform Polymarket were handed out in Toronto, despite a ban on the company and its advertising in the province. The notice said regulators will "consider whether other regulatory action is required." The notice highlights regulators' attempt to draw clearer rules for Canada's burgeoning prediction market space. Prediction markets allow users to wager on the outcome of real-world events, from sports games to interest-rate decisions. The controversial sector has grown quickly in recent years, but Canadian regulators have largely restricted access, citing investor protection concerns. The CSA in 2017 banned short-term "yes-or-no" contracts, referring to them as binary options.