Tobique First Nation Launches Sovereign Prediction Markets Authority

The Tobique First Nation in New Brunswick has enacted dedicated prediction markets legislation and established a standalone regulatory authority, becoming the first indigenous sovereign government in North America to do so.

With a population of less than 3,000 community members according to a 2025 census, the Tobique First Nation operates the Tobique Gaming Commission (TGC). The TGC was created under the Tobique Gaming Act of 2023 and exercises independent authority based on the nation's right to self-govern, outside Canadian provincial and federal gambling legislation.

Sovereign Prediction Markets Framework

Tobique has passed the Prediction Markets Act and created the Tobique Prediction Market Authority as a separate entity from the TGC to oversee relevant permit holders. The statute was enacted pursuant to rights of self-government.

“Pursuant to their rights of self-government, the new statute has been duly enacted with the hope of promoting and preserving the reputation of the Tobique First Nation as an internationally credible jurisdiction for regulated Prediction Markets,” the First Nation added.

The framework bypasses Canadian federal and provincial legislation that has placed heavy restrictions on short-term binary options and confined prediction markets to a grey area.

Advisory Partnership

The Tobique First Nation has selected CL Specialist Projects Limited as its principal advisory partner on global market and business developments, with Cliff Lewin, Director of CL Ltd, as the primary advisory contact.