Are prediction markets gambling? Robinhood CEO Vlad Tenev is betting not

Today, I’m talking with Vlad Tenev, the cofounder and CEO of Robinhood, which is one of the most well-known consumer finance apps in the world. It started as a way to open up stock trading, but the company’s ambitions have grown over time — and they’re getting even bigger. Just a day before Tenev and I talked, Robinhood announced it would soon be offering bank accounts and wealth management services, which would allow Robinhood to be involved with your money at every possible level. So I was interested to sit down with Tenev and really hash out where Robinhood is going and why he’s so adamant that big ideas, like prediction markets based around everything from sports games to presidential elections, are going to play such a pivotal role in the future of finance. And I really wanted to talk about the responsibilities that come with that role. Robinhood is on a lot of people’s phones — especially young men — and it’s a quick jump from doing a little bit of casual retail investing to p ... Read full article.