{"id":8548,"date":"2026-04-20T07:53:38","date_gmt":"2026-04-20T07:53:38","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8548"},"modified":"2026-04-20T07:53:38","modified_gmt":"2026-04-20T07:53:38","slug":"charles-schwab-weighs-prediction-markets-as-trading-boom-draws-wall-street-interest","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8548","title":{"rendered":"Charles Schwab Weighs Prediction Markets as Trading Boom Draws Wall Street Interest"},"content":{"rendered":"

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  • Charles Schwab CEO Rick Wurster said the firm is taking a hard look at prediction markets linked to financial events.<\/span><\/li>\n
  • Schwab reported US$11.77 trillion in client assets and record daily average trading volume of 9.9 million in Q1.<\/span><\/li>\n
  • Kalshi and Polymarket\u2019s growth has drawn federal scrutiny over sports contracts and gambling-like market design.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Charles Schwab is weighing prediction markets tied to financial events as Wall Street interest in event contracts accelerates and regulators question whether parts of the sector resemble sports betting.<\/p>\n

    Schwab President and CEO Rick Wurster said the firm is taking a hard look at prediction markets but would avoid wagers that do not fit its wealth-management focus.\u00a0<\/p>\n

    He said Schwab would likely have prediction markets at some point, while drawing a line between financial events and sports, politics or pop culture.<\/p>\n

    Read more: Wall Street Eyes Prediction Markets as JPMorgan and Goldman Explore Entry<\/strong><\/p>\n

    Wurster\u2019s comments came as Schwab reported total client assets reached US$11.77 trillion (AU$16.48 trillion), core net new assets totalled US$140 billion (AU$196 billion), new brokerage accounts reached 1.3 million and daily average trades hit a record 9.9 million.<\/p>\n

    Wurster said Schwab would stay away from gambling-style markets, which is a key distinction here; prediction markets can range from contracts on interest rates, economic data and elections to sports outcomes and entertainment events.<\/p>\n

    Regulatory Pressure Builds<\/h2>\n

    However, regulatory scrutiny is rising. CFTC Chair Michael Selig told a House Agriculture Committee hearing on April 16 that the agency has a \u201czero-tolerance policy\u201d for insider trading, fraud or manipulation in prediction markets.<\/p>\n

    The CFTC even took three states to court for allowing prediction markets to operate freely.<\/p>\n

    Similarly, Senators Adam Schiff and John Curtis introduced a bipartisan bill on March 23 that would prevent Kalshi and Polymarket from offering sports event contracts or casino-style games, with Schiff arguing those products are sports bets under a different name.<\/p>\n

    The scale of activity basically says it all. Yahoo Finance cited Dune dashboard data showing sports wagers made up 78% of Kalshi\u2019s weekly volume at US$2.7 billion (AU$3.78 billion), a figure that highlights both commercial demand and the regulatory risk around product design.<\/p>\n

    Read more: Trump-Linked Crypto Locks Investors Into Multi-Year Wait for Token Access<\/strong><\/p>\n<\/p><\/div>\n

    Betting,Prediction Market,Regulation#Charles #Schwab #Weighs #Prediction #Markets #Trading #Boom #Draws #Wall #Street #Interest1776671618<\/p>\n","protected":false},"excerpt":{"rendered":"

    Charles Schwab CEO Rick Wurster said the firm is taking a hard look at prediction markets linked to financial events. Schwab reported US$11.77 trillion in client assets and record daily average trading volume of 9.9 million in Q1. Kalshi and Polymarket\u2019s growth has drawn federal scrutiny over sports contracts and gambling-like market design. Charles Schwab<\/p>\n","protected":false},"author":1,"featured_media":8549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[223,3799,1213,1861,450,765,3806,1359,244,1080,1465],"class_list":{"0":"post-8548","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-boom","9":"tag-charles","10":"tag-draws","11":"tag-interest","12":"tag-markets","13":"tag-prediction","14":"tag-schwab","15":"tag-street","16":"tag-trading","17":"tag-wall","18":"tag-weighs"},"yoast_head":"\nCharles Schwab Weighs Prediction Markets as Trading Boom Draws Wall Street Interest - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8548\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charles Schwab Weighs Prediction Markets as Trading Boom Draws Wall Street Interest\" \/>\n<meta property=\"og:description\" content=\"Charles Schwab CEO Rick Wurster said the firm is taking a hard look at prediction markets linked to financial events. 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