Decision in brief: Ontario Securities Commission v Blockratize Inc., Enforcement Proceeding, Settlement, April 17, 2025

Citation

Ontario Securities Commission v Blockratize Inc, 2025 ONCMT 7

Arbitres
Russell Juriansz (chair of the panel), Jane Waechter, and James Douglas
Date des motifs:
Numéro de dossier:
2025-8
Type d'audience:
Settlement
Candidats / Répondants :
Ontario Securities Commission, Blockratize Inc. and Adventure One QSS Inc.

In this enforcement case, the OSC says that Blockratize Inc. and Adventure One QSS Inc. broke Ontario securities law by offering binary options in Ontario through Polymarket, an online global trading platform they operate. A binary option allows individuals to bet on whether a future event will happen and receive a payout if they are correct. Most of the binary options offered allowed people to bet on an outcome taking place within 30 days.

Blockratize, Adventure One and the OSC agreed to settle the case. In this hearing, the Tribunal approved that settlement agreement.

As a result, Blockratize and Adventure One cannot participate in Ontario’s capital markets for two years (with some exceptions). They also cannot become or act as a registrant or promoter for a period of two years.

Blockratize and Adventure One have already made a voluntary payment of $22,966.75 USD, and paid an administrative penalty of $200,000 and costs of the investigation of $25,000. They have also provided an undertaking (promise) to the OSC to prevent Ontario residents from using Polymarket.

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Préparées par le personnel du Secrétariat de la gouvernance et du Tribunal, les décisions en bref aident le public à mieux comprendre les décisions du Tribunal. Elles ne font pas partie des motifs invoqués par le Tribunal et ne sont pas utilisées dans les procédures judiciaires.