Robinhood Markets Inc (NASDAQ:HOOD) CEO Vlad Tenev rarely agrees with Gary Gensler, but this week he conceded the former SEC chair may have a fair point on sports prediction markets.
Gensler recently argued that when Congress updated CFTC statutes, no senator ever discussed sports applications. State-level objections likely would have stalled the legislation, he said.
Asked on CNBC about that argument, Tenev largely agreed.
“I don’t disagree, and maybe the law should be updated,” Tenev said, while pointing out that sports has become a much bigger chunk of the economy than it was 20 years ago.
Why The Concession Matters For HOOD
Robinhood has tied much of its 2026 growth narrative to prediction market expansion, with Tenev framing the platform as a “financial super app” spanning every asset class. Sports event contracts are a core piece of that thesis.
Tenev argued sports is …
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