Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. 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&#x27;s race to assess the dangers of its new AI-model Mythos Eric Clark, Accuvest Global Advisors CIO and LOGO ETF Portfolio Manager See omnystudio.com/listener for privacy information.

Schwab Considering Prediction Markets, Netflix Earnings 

Bloomberg Businessweek

# Full Transcript

**Podcast:** Bloomberg Businessweek

## Participants

- **Carol Massar** (Bloomberg)
- **Tim Stenovec** (Bloomberg)
- **Rick Wurster** (Charles Schwab)
- **Verena Ross** (European Securities and Markets Authority (ESMA))
- **Margi Murphy** (Bloomberg News)
- **Eric Clark** (Accuvest Global Advisors)

## Transcript

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Bloomberg Audio Studios. Podcasts. Radio. News. This is Bloomberg Business Week Daily. Reporting from the magazine that helps global leaders stay ahead. With insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Businessweek Daily Podcast. With Carol Massar and Tim Stenovec on Bloomberg Radio.

Talk to us about the quarter because on several metrics, you guys definitely beat, and yet we do see the stock down on that revenue miss based on analyst estimates. How do you explain the miss? And what do you think investors might be missing here? Well, it was an exceptional quarter. We had record results, record earnings, record revenue growth. We saw record new assets come into the firm in March. And it was across the board growth. Every one of our businesses grew double digits year over year.

So it was a really strong quarter for the firm. It was also a quarter in which what we do, I think, really stood out for investors. We're a firm that stands behind every client, helps them get to where they want to be in their financial life. And in a market with more volatility, being in 400 local communities, having 16,000 advisors on our platform, taking 8 million calls, all of those things makes a difference in the everyday lives of people that invest at Schwab.

It was also a quarter when we made a tremendous amount of pr...

Schwab Considering Prediction Markets, Netflix Earnings

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Schwab Considering Prediction Markets, Netflix Earnings

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.