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Nellius Irene

Schwab CEO Rick Wurster backs economic prediction markets but rules out sports betting

On February 6 2026, Schwab President and CEO Rick Wurster reiterated that economic and financial prediction markets can support long-term investing, but sports betting does not fit the firm's mission. He indicated Schwab may use data from markets tied to indicators like inflation and employment to help clients react to major economic events, while leaving sportsbook-style products to platforms such as FanDuel and Robinhood. His comments come as U.S. regulators reassess event contracts and state authorities challenge sports-related offerings, even as trading volumes on platforms like Kalshi and Polymarket keep climbing.
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