The Duff Moisture Code (DMC) and Drought Code (DC) components of the Canadian Forest Fire Weather Index (FWI) System are used by fire managers to assess the vulnerability of organic soils to ignition and depth of burn despite being developed for upland soils. Given the need to assess wildfire risk in peatlands, we compared the DMC and DC in eight peatlands located in five regions in boreal Canada with water table position (WT) and surface volumetric moisture content (VMC). The slope of the change in WT and DC relationship ranged greatly (–0.01 to –0.11 cm) between sites and years likely due to differences in site-specific peat properties, catchment water supply, and presence of seasonal ice. A DC of 400, which has been associated with wildfire vulnerability in uplands, corresponded to a seasonal drop in WT in the range of 4–36 cm. The slopes of the relationships between DMC and DC with 5 and 15 cm VMC also varied greatly between sites. Our findings suggest that these FWI components are suitable for predicting the general moisture status and fire danger in boreal peatlands. However, there is a need for a modified DC for specific peat types to indicate when the WT has reached a critical depth upon which fire danger increases. We also present a suggested framework for the development of a new peat moisture code within the FWI.