Bloomberg Talks Robinhood CEO Vlad Tenev Talks Prediction Markets
Dec 17, 2025
Vlad Tenev, the Chair and CEO of Robinhood, discusses the exciting potential of prediction markets, suggesting we might be on the verge of a supercycle. He dives into the recent LedgerX acquisition, highlighting its importance for institutional growth. The conversation touches on risks like insider trading and addiction in trading prediction markets. Tenev also clarifies how these markets differ from gambling, and outlines innovative uses for AI through their Cortex system, aimed at enhancing trading strategies. He even mentions readiness to assist with government initiatives like 'Trump accounts'.
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Prediction Markets Beyond Sports
- Prediction markets can expand beyond sports into politics, weather, economics and insurance, creating many tradable contracts.
- Vlad Tenev sees a possible "prediction market super cycle" as institutional participation and volumes grow.
Existing Market Surveillance Applies
- Financial markets already possess surveillance tools to address insider trading in prediction markets.
- Vlad argues using established market infrastructure and monitoring can manage insider-trading risks.
Choose Markets That Fit Your Strategy
- Treat prediction markets like other derivatives and ensure participants understand risks before trading.
- Vlad warns these markets suit active traders and those with strategies, not everyone should participate.