Brief
Koho CEO says the fintech will avoid prediction‑market products
CEO Daniel Eberhard says prediction markets are akin to gambling and will not be part of Koho’s upcoming banking services.
By Felo News Desk · Published
Canada’s fintech unicorn Koho, which raised C$130 million earlier this year, will not add prediction‑market products, its chief executive Daniel Eberhard told BetaKit. He likened prediction markets to altcoins and NFTs, calling them "tech‑washing what amounts to gambling" that could create negative social effects. Eberhard said the move reflects a principled stance as Koho nears the end of its five‑year effort to secure a Schedule 1 banking licence, which he expects will enable more competitive lending and savings rates for Canadians. The interview also touched on growing international competition in Canada’s financial sector, the Big Six banks’ limited participation in new payments infrastructure, and upcoming Koho features, but confirmed that prediction markets are not on the roadmap.
Key facts
- Koho raised C$130 million earlier in 2026. (betakit.com)
- CEO Daniel Eberhard says Koho will not launch prediction‑market products. (betakit.com)
- Eberhard compares prediction markets to altcoins and NFTs, calling them gambling. (betakit.com)
- Koho is in the final stage of a five‑year plan to obtain a Schedule 1 banking licence. (betakit.com)
Sources
- [1] betakit.com — originally reported as “Why Koho won’t bet on prediction markets”
