Charles Schwab Corp. (SCHW) 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. Schwab's CEO, Rick Wurster, joined Bloomberg Businessweek Daily to discuss.
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