The sometimes overlapping worlds of investing and wagering were abuzz on Wednesday after the chief executive officer of Robinhood Markets Inc. said the trading platform operator is considering stick-and-ball sports betting.
“A lot of our customers, who index on Millennial and Gen Z, are interested in sports in general,” Robinhood CEO Vlad Tenev said during the company’s investor day. “So we’re keenly looking into that space. Nothing to announce just yet, but it’s so important to our customers and in culture that we’re excited about it.”
Robinhood’s interest in legal sports betting follows its foray into election wagering earlier this year, wherein the company saw more than 500 million event contracts traded in just over a week.
