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Charles Schwab 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.

“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.

Retail investors can already access prediction markets via a number of platforms, including Robinhood, Kalshi, Polymarket and Interactive Brokers Group. The majority of event-based wagering centers around sports, which Wurster said Schwab won’t offer.

This episode features:
Schwab CEO Rick Wurster on earnings, prediction markets, financial sector health
Verena Ross, European Securities and Market Authorities Chair
Margi Murphy, Bloomberg News Cyber Reporter on Anthropic's race to assess the dangers of its new AI-model Mythos
Eric Clark, Accuvest Global Advisors CIO and LOGO ETF Portfolio Manager

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>.
Charles Schwab is likely to launch prediction markets linked to financial events as competitors including Robinhood Markets Inc. expand their presence in the space.Schwab is &ldquo;taking a hard look&rdquo; 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&rsquo;s focus on building clients&rsquo; long-term wealth.
&ldquo;Prediction markets that are not aligned to that are not something we want to pursue,&rdquo; Wurster said on the call with analysts to discuss first-quarter results.
Retail investors can already access prediction markets via a number of platforms, including Robinhood, Kalshi, Polymarket and Interactive Brokers Group. The majority of event-based wagering centers around sports, which Wurster said Schwab won&rsquo;t offer.
This episode features:
<ul>
<li>Schwab CEO Rick Wurster on earnings, prediction markets, financial sector health</li>
<li>Verena Ross, European Securities and Market Authorities Chair</li>
<li>Margi Murphy, Bloomberg News Cyber Reporter on Anthropic's race to assess the dangers of its new AI-model Mythos</li>
<li>Eric Clark, Accuvest Global Advisors CIO and LOGO ETF Portfolio Manager</li>
</ul>

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Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.  You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.&nbsp; You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Schwab Considering Prediction Markets, Netflix Earnings 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/348e2ccf-a960-43f3-93ef-b42e0164e6ba/transcript