Tobique First Nation creates prediction markets regulator
The new Tobique Prediction Market Authority is separate from the community’s existing gaming regulator and will oversee permit holders under the Prediction Markets Act.
Key takeaways:
- Tobique First Nation in New Brunswick has introduced legislation specifically regulating prediction markets, the Prediction Markets Act.
- The community created the Tobique Prediction Market Authority (TPMA) to regulate holders of permits issued under the act.
- CL Specialist Projects Limited has been appointed principal advisory partner, with director Cliff Lewin as primary advisory contact.
US.- The Tobique First Nation in New Brunswick has introduced legislation specifically regulating prediction markets and has established a new body to oversee the sector. The initiative adds a dedicated framework to the community’s existing gambling regulatory structure, which operates under its self-government powers.
Under the new legislation, the community has created the Tobique Prediction Market Authority (TPMA), a separate entity from the Tobique Gaming Commission (TGC) that will be responsible for regulating holders of permits issued under the Prediction Markets Act.
Tobique has appointed CL Specialist Projects Limited as its principal advisory partner on global market developments and business opportunities, with its director, Cliff Lewin, serving as the primary advisory contact.
The First Nation, home to fewer than 3,000 people according to a 2025 census, established the TGC under the Tobique Gaming Act of 2023. The commission exercises regulatory authority independently of Canada’s provincial and federal gambling frameworks.
Meanwhile, New Brunswick is reviewing possible regulatory models for private online gambling operators, a move that could end Atlantic Lottery Corporation’s exclusive position in the province’s legal internet gaming market. Government spokesperson David Kelly said officials are examining developments in other provinces and jurisdictions. Ontario and now Alberta have markets open to licensed private companies.
Frequently asked questions (FAQs)
- What is the Tobique Prediction Market Authority? The Tobique Prediction Market Authority (TPMA) is a new regulator created by Tobique First Nation. It is responsible for regulating holders of permits issued under the Prediction Markets Act and is a separate entity from the Tobique Gaming Commission.
- Who regulates gambling in Tobique First Nation? The Tobique Gaming Commission (TGC) is the community’s gambling regulator. It was established under the Tobique Gaming Act of 2023 and exercises regulatory authority independently of Canada’s provincial and federal gambling frameworks. Prediction market permit holders now fall under the separate TPMA.
- Why can Tobique regulate prediction markets? Tobique said it enacted the legislation in accordance with its self-government rights. The community already regulates gambling through its own commission, and the new framework aims to strengthen its position as an internationally recognised jurisdiction for regulated prediction markets.
