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
Photographer: Desiree Rios/Bloomberg
“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.
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