Robinhood
CEO Vlad Tenev defended prediction market traders against gambling critics last
week, arguing that speculators are essential for any market to work. The
comments, delivered at the Wall Street Journal’s Future of Everything conference
on May 5, landed in the same week that prediction market operator Kalshi closed
a $1 billion funding round at a $22 billion valuation.Singapore Summit: Meet the largest
APAC brokers you know (and those you still don’t!)”You
can’t have a functional financial market without speculators…
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