OSC v. Blockratize Inc. and Adventure One QSS Inc. (2025)

Settled

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In April 2025 the Ontario Capital Markets Tribunal approved a settlement in which Blockratize Inc. and Adventure One QSS Inc., operators of the Polymarket prediction-market platform, admitted offering short-dated binary options to Ontario residents between June 2020 and May 2023 contrary to the binary options prohibition. They must pay a C$200,000 administrative penalty jointly and C$25,000 in costs. The case concerns an unlawful offering, not rigged execution or manipulation.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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Penalty as published

C$200k

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in CAD. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The Capital Markets Tribunal of Ontario issued its Reasons for Approval of a Settlement on April 17, 2025 in file 2025-8, after a hearing on April 14. The respondents are Blockratize Inc., which operated Polymarket until about January 2022, and Adventure One QSS Inc., which has operated it since (0 individuals, 2 entities). Earlier versions of this record carried a garbled respondent name and showed the matter as a judgment.

The Ontario Securities Commission alleged, and the respondents agreed, that between June 16, 2020 and May 26, 2023 Ontario residents could trade on Polymarket event-based contracts that were "binary options" under Multilateral Instrument 91-102, which prohibits trading binary options with maturities under 30 days without an exemption, and that none had been granted. The platform listed at least 6,044 contracts with about US$254 million of trading volume, and revenue attributable to Ontario users was estimated at about US$22,967. The agreed facts do not allege that trades were manipulated or that results were rigged.

The Tribunal approved the agreed sanctions, which include a two-year ban on acting as a registrant or promoter, a C$200,000 administrative penalty paid jointly and severally and C$25,000 in costs. The penalty is stored in the native-currency field. The file name still carries a chat group pump label from an earlier classification; no technique tag applies.

For the tribunal's own account, read the primary documents linked above.

Timeline

1. 2025-03-31 Document
2. 2025-03-31 Settlement Agreement
3. 2025-04-01 Notice of Hearing
4. 2025-04-17 Reasons and Decision
5. 2025-04-17 Reasons and Decision

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• Tribunal proceeding
• Document
• Settlement Agreement
• Notice of Hearing
• Reasons and Decision
• Reasons and Decision

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.