Yours, Mine and Ours. Niagara Falls is not “owned” by the U.S. or by Canada. Instead, an international boundary map divides the natural wonder into three waterfalls — the bulk of Horseshoe Falls is on the Canadian side, while the aptly named American Falls and Bridal Veil Falls are on the U.S. side.

Niagara Falls is not owned by a single person or private entity; it is public land shared between the governments of the United States and Canada. Specifically, the falls are managed by two separate park agencies. On the American side, the New York State Office of Parks, Recreation and Historic Preservation manages Niagara Falls State Park, which is the oldest state park in the U.S. (established in 1885). On the Canadian side, the Niagara Parks Commission, a self-funded agency of the Ontario Ministry of Tourism, Culture and Sport, manages the lands surrounding the Horseshoe Falls. While the "ownership" is public, the water usage for hydroelectric power is governed by international treaties and managed by the International Joint Commission. This ensures that a specific volume of water is always diverted over the falls for aesthetic and tourist purposes, while the rest is shared between power plants like the Robert Moses Niagara Power Plant (NY) and the Sir Adam Beck Hydroelectric Generating Stations (Ontario). No private company can "own" the falls, though many hold licenses to operate tours like the Maid of the Mist.