Robinhood co-founder and CEO Vlad Tenev said prediction markets will survive even if the Supreme Court sides with states, arguing the products are likely to persist rather than disappear prediction markets are not going away.
Tenev told Bloomberg that the line of business has become Robinhood's fastest-growing business line, growing from roughly zero at the 2024 presidential election to "hundreds of millions" and producing 6 billion contracts in July, which he said was up 20x year-over-year.
"even if the Supreme Court sides in favor of the states, I don't think it's going to be prediction markets are gone" Vlad Tenev said on the Bloomberg Podcasts podcast.
He said Robinhood sides with the Commodity Futures Trading Commission's view that the contracts should fall under federal statutes and noted states have pushed back for fiscal and policy reasons, with multiple cease and desist orders issued to derivative exchanges.
Tenev said the likely outcome is a legal boundary rather than an outright ban, "there's going to be some line drawn, and then we'll obviously have to adapt", and that Robinhood will continue to press for broad preemption while preparing to operate within whatever limits are set.
