I recently wrote about the "SuperApp" for Canada. One of the big legs: prediction markets. This has become a hot topic with the rapid rise of Polymarket and Kalshi. In Canada, Wealthsimple's "event contract" trading product became available in the summer. So what's the law about this? What can businesses do in Canada?

85% Canadian Corporations or 50% Canadian Corporations?

Robinhood, an American fintech, is sometimes called a "Superapp". A superapp is an app that offers all kinds of financial-related services. In Robinhood's case, they offer everything from literal cash deliveries to your house to stock trading, bank accounts, cryptocurrency dealing, and prediction markets. They're now offering 24/5 trading via MiCA (based in Lithuania) across the EU for tokenized stocks (see my piece on that from last year). They're currently expanding in Canada, and perhaps gearing up to launch the same sort of thing here. Whether it's Robinhood or someone else, what would they need to do to launch a Superapp in Canada?

My neighbour made a bad face when I mentioned I'm a lawyer who advises crypto businesses (and sometimes combats criminals on the civil side). He said he'd met a lot of "those people" in Bali, Indonesia. But he didn't, becuase they're not the same people as the ones I work for and the people who genuinely are making new things. This is a constant problem with the big label of crypto. That's why some businesses turned to the label "blockchain" many years ago. Unfortunately, it's like saying you work in "email", in a world without spam filters, and where journalists write articles treating everything sent by email as "email". If that was the case, we'd all have a negative view of "email" despite its utility. This is not to say they're the same, but rather that with a big enough label it'll include a lot of bad things amongst the good. More fundamentally, the bad stuff has big budgets for ads/marketing, so the good stuff isn't seen.

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What Do I Know?

Two Important Things That Are Usually Missed

Why can't $200 lawyers be $1000 lawyers? Why can't $100 bankers be $1000 bankers? All of these platforms are being built with an understanding that amazing quality work can be produced at a fraction of the cost. Because LLMs are so amazing at coding, math, and meaningless writing, it's widely assumed that this is possible. Having tried for years to make this a reality with my own practice, I have my doubts, and I've written them up here for anyone else who's wondering why this is hard.

This week I launched a new website for my law practice. It better captures how my practice is operating and has a nicer design, aided by ChatGPT v5.

On Monday, I posted about “Bask Wallet”, a crypto wallet I made that demonstrates the coming future of on-chain finance. Why is this interesting? What does this say about what's coming?