Are prediction markets gambling? Robinhood's Vlad Tenev is betting not

Decoder with Nilay Patel

Vox Media Podcast Network

Technology, Business

4.3 • 3.2K Ratings

🗓️ 14 April 2025

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today, I’m talking with Vlad Tenev, the co-founder and CEO of Robinhood, which started as a way to open up stock trading. But the company’s ambitions have grown over time – and they’re getting bigger. Just a day before Vlad and I talked, Robinhood announced it would soon be offering bank accounts and wealth management services, which would really allow Robinhood to be involved with your money at every possible level. So I was very interested to sit down with Vlad and really hash out where Robinhood is going, and why he’s so adamant that certain big ideas, like prediction markets based around everything from sports games to presidential elections, are going to play a pivotal role in the future of finance. Links: Robinhood CEO Vlad Tenev on markets for everything | Hard Fork Robinhood is launching bank accounts | Verge Kalshi sues Nevada and New Jersey regulators | Esports Insider Kalshi CEO: ‘State law doesn’t really apply’ to us | TechCrunch Robinhood debuts a sports gambling hub | Verge The SEC has ended its investigation into Robinhood crypto | Verge Robinhood admits it’s just a gambling app | Verge Massachusetts regulator subpoenas Robinhood over sports betting | CNN Verge Transcript Credits: Decoder is a production of The Verge and part of the Vox Media Podcast Network. Our producers are Kate Cox and Nick Statt. Our editor is Ursa Wright. The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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1:58.4	Hello and welcome to Decoder. I'm Neelai Patel, editor-inchief of The Verge, and Decoder is my show about big ideas and other problems.
2:05.0	Today I'm talking with Vlad Tenev, the co-founder and CEO of Robin Hood, which at this point is one of the most well-known consumer finance apps in the world, right up there with PayPal and Venmo.
	...

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