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Schwab Considering Prediction Markets Tied to Finance Events
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April 16, 2026
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12:31Now PlayingCharles Schwab Corp. is likely to launch prediction markets linked to financial events as competitors including Robinhood Markets Inc. expand their presence in the space.
Schwab is “taking a hard look” at prediction markets, Chief Executive Officer Rick Wurster said on a conference call Thursday, but would stay away from allowing customers to place wagers on sports or pop culture given the firm’s focus on building clients’ long-term wealth. Schwab's CEO Rick Wurster joined Bloomberg Businessweek Daily to discuss. Charles Schwab Corp. is likely to launch prediction markets linked to financial events as competitors including Robinhood Markets Inc. expand their presence in the space.
Schwab is “taking a hard look” at prediction markets, Chief Executive Officer Rick Wurster said on a conference call Thursday, but would stay away from allowing customers to place wagers on sports or pop culture given the firm’s focus on building clients’ long-term wealth.
Rick Wurster
“Prediction markets that are not aligned to that are not something we want to pursue,” Wurster said on the call with analysts to discuss first-quarter results.
Read More: Schwab Revenue Misses Estimates Even as Client Assets Climb
Retail investors can already access prediction markets via a number of platforms, including Robinhood, Kalshi Inc., Polymarket and Interactive Brokers Group Inc. The majority of event-based wagering centers around sports, which Wurster said Schwab won’t offer.
Read More: BofA Sees a $1.1 Trillion Market for Sports Event Betting in US
Wurster declined to commit to prediction markets appearing on the Schwab platform this year, saying in a Bloomberg Television interview that they’d be made available when doing so makes sense.
Prediction markets are not on the top of clients’ lists of demands, he said on the earlier conference call, but Westlake, Texas-based Schwab is “ready to move when and if needed, and when we do, we’ll stay away from gambling.”
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