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Charles Schwab 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.

“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.

Retail investors can already access prediction markets via a number of platforms, including Robinhood, Kalshi, Polymarket and Interactive Brokers Group. The majority of event-based wagering centers around sports, which Wurster said Schwab won’t offer.

This episode features:

• Schwab CEO Rick Wurster on earnings, prediction markets, financial sector health
• Verena Ross, European Securities and Market Authorities Chair
• Margi Murphy, Bloomberg News Cyber Reporter on Anthropic's race to assess the dangers of its new AI-model Mythos
• Eric Clark, Accuvest Global Advisors CIO and LOGO ETF Portfolio Manager

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