Vlad Tenev says functional markets need speculators
Updated
Updated · The Wall Street Journal · May 5
Vlad Tenev says functional markets need speculators
12 articles · Updated · The Wall Street Journal · May 5
Speaking at the Wall Street Journal's Future of Everything conference, the Robinhood chief was answering whether prediction markets are effectively gambling.
Robinhood was among the first online brokerages to expand into prediction markets, where traders place yes-or-no bets on outcomes ranging from football games to Federal Reserve meetings.
The remarks come amid debate over the sector after a recent Wall Street Journal analysis found a small number of accounts on Polymarket and Kalshi captured most profits.
With a few traders capturing most profits, are prediction markets just a new casino for retail investors?
Can their value as economic forecasters shield prediction markets from being regulated as illegal gambling?