Ten Commandments monument returned to spot near longtime home in Assiniboine Park

Broadening prediction-market gambling a bad idea

Let’s make a prediction: sooner or later, when Canadian governments find a way to take their own cut of the action, prediction-contract gambling on everything from sports to entertainment to political decisions is going to come to Canada.

And that’s a horrible, dangerous, pernicious idea.

Unless you have particular access to information — either inside information or strategic information based on skills or education — you’re not likely to make money at it. In fact, structurally, you’re likely to lose. In prediction markets, you basically pay an amount, plus fees from the company involved, to bet on whether something will or will not happen within a certain time frame. The amount you pay for your contract depends on how other people are also betting.

As Wealthsimple describes it, “You buy whichever side you think is right. Prices move with demand, so if the market leans towards one outcome, the more that side costs. If a lot of people are backing the TSX to finish above 38,000, yes gets more expensive and no gets cheaper.”

A day on the campaign trail: Winnipeg's mayor, seeking a second term, does double duty

In the weeks leading up to the civic election, Scott Gillingham has been performing a juggling act: he’s running to be Winnipeg’s 45th mayor, while still serving as its 44th.

“If someone asks me about the campaign, I’m going to answer them. But I think for most people, I’m the mayor of Winnipeg, even if I’m showing up as a candidate,” Gillingham, 58, says. “I try to do all I can to maintain that distinction.”

The Free Press joined Gillingham on a recent rainy September Saturday on the campaign trail, where he served in both roles during an event-laden day. City council’s final meeting before the Oct. 28 election was days earlier.

In Winnipeg, it’s rare for an incumbent to be defeated. But Gillingham knows his win in 2022 wasn’t exactly a landslide — he won with 27.5 per cent of the vote — and he’s been thinking about his second term ever since.

Clock ticks down on destruction of records documenting residential school abuses

In less than a year, a private company is set to destroy the largest cache of records detailing the widespread abuse of Indigenous children at residential schools in Canada.

The destruction, which was ordered by an Ontario court in 2014 and later upheld by the Supreme Court, is set to take place on Sept. 19, 2027.

This countdown is igniting emotional conversations that seek to balance the immense historical value of the records alongside the confidentiality survivors were promised as part of the process of providing detailed testimony about abuses they’d suffered.

The records were created as part of the Indian Residential Schools Settlement Agreement, a class-action settlement stemming from survivors who began suing the federal government in the late 1990s over the harm they’d been subjected to at residential schools.

International flavour: Canadian investors may want to make like Ottawa, diversify beyond U.S.

Canada is learning the hard way about the dangers of putting too many eggs in its U.S. economic basket.

Much has been made about the need to diversify our economy away from the United States.

Diversification is understandably beneficial. The more varied streams of revenue a nation has, the less affected the economy will be when one of those sources is interrupted.

The same can be said about investment portfolios.

Manitoba marks end of sending simple workplace problems to doctor’s office

There are some changes in the workplace that make you think: “Well, it’s about time.”

This is one of them.

Starting Oct. 1, Manitoba changed the rules around sick notes. I think it is going to be a wonderful change — not just for doctors and patients, but for employers, employees and the way we think about accountability at work.

The change comes from Bill 11, the Employment Standards Code Amendment Act (Sick Notes for Employee Absences), which received royal assent on June 1 and came into force Thursday. Under the new rules, employers generally cannot require a sick note for an illness or injury unless the employee is away for more than one week or has been absent because of illness or injury for more than 10 scheduled workdays in the calendar year.

Gillingham talks trash, pledges big bin boost

Scott Gillingham says he would add hundreds of locked garbage bins downtown to prevent unsightly trash piles if re-elected as mayor.