There are actually three falls; the American and Bridal Veil Falls and the Canadian Horseshoe Falls. The U.S. owns the first two and the Canadian Horseshoe Falls is owned by Canada. Ten percent of the Niagara River flows over the American and Bridal Veil Falls and the remaining 90% over the Canadian Horseshoe Falls.

While the Niagara River serves as the international border, Canada is generally considered to "own" the most iconic and visually impressive part of the falls. There are three distinct waterfalls: the American Falls, the Bridal Veil Falls (both entirely in the U.S.), and the Horseshoe Falls. Approximately 90% of the Horseshoe Falls—which is the largest and carries the vast majority of the water volume—is located on the Canadian side in Ontario. Because of the curvature of the falls, the Canadian side also offers the superior "panoramic" view, looking directly into the maw of all three cataracts. The U.S. side, located in New York, consists mostly of the smaller, straighter falls and a large state park that allows visitors to get much closer to the edge of the water. In 2026, both countries cooperate closely through the International Joint Commission to manage water diversion for hydroelectric power, ensuring that the "scenic" flow remains spectacular for tourists on both sides of the border. Physically, however, if you are looking for the "main event," you are looking at Canadian territory.