'You Can't Have a Functional Market Without Speculators,' Robinhood CEO Says -- WSJ

Dow Jones05-06

By Hannah Erin Lang

"You can't have a functional financial market without speculators. If everyone's just hedging, the market is going to break... As long as you have a strategy, and it's systematic, who am I to say that you shouldn't engage in trading with that asset class?"

That's Robinhood chief executive Vlad Tenev at the WSJ's Future of Everything conference, in response to a question from an audience member about whether he considered prediction markets to be the same gambling.

The online brokerage was one of the first to move into the world of prediction-markets, which allow traders to make yes-or-no wagers on the outcome of future events, from football games to Fed meetings. A recent WSJ analysis found that a small number of accounts on Polymarket and Kalshi take home the majority of profits.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 05, 2026 12:40 ET (16:40 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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If everyone's just hedging, the market is going to break... As long as you have a strategy, and it's systematic, who am I to say that you shouldn't engage in trading with that asset class?\" \n</p>\n<p>\n     That's <a href=\"https://laohu8.com/S/HOOD\">Robinhood</a> chief executive Vlad Tenev at the WSJ's Future of Everything conference, in response to a question from an audience member about whether he considered prediction markets to be the same gambling. \n</p>\n<p>\n     The online brokerage was one of the first to move into the world of prediction-markets, which allow traders to make yes-or-no wagers on the outcome of future events, from football games to Fed meetings. A recent WSJ analysis found that a small number of accounts on Polymarket and Kalshi take home the majority of profits. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 05, 2026 12:40 ET (16:40 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HOOZ","symbol_name":"2倍做空HOOD ETF-Defiance","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2633834947","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2633834947","pubTimestamp":1777999200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"\"You can't have a functional financial market without speculators. 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If everyone's just hedging, the market is going to break... As long as you have a strategy, and it's systematic, who am I to say that you shouldn't engage in trading with that asset class?\" \n\n\n     That's Robinhood chief executive Vlad Tenev at the WSJ's Future of Everything conference, in response to a question from an audience member about whether he considered prediction markets to be the same gambling. \n\n\n     The online brokerage was one of the first to move into the world of prediction-markets, which allow traders to make yes-or-no wagers on the outcome of future events, from football games to Fed meetings. A recent WSJ analysis found that a small number of accounts on Polymarket and Kalshi take home the majority of profits. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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