Robinhood CEO Says Rising Interest In Election Prediction Markets Is Indicative Of Growing 'Distrust Of Traditional News'

Robinhood Markets (NASDAQ:HOOD) new election prediction market is reshaping how people consume information, with CEO Vlad Tenev saying it could redefine how users get real-time news.

What Happened: Robinhood’s prediction market was unveiled a week before the election, spotlighting the race between Democratic nominee Kamala Harris and now President-elect Donald Trump.

The platform’s CEO, Vlad Tenev, now envisions a future where Robinhood’s millions of users can place bets on a range of events, including the performance of stocks they trade on the platform, reported The Verge.

In an interview with the publication, Tenev suggested that the burgeoning interest in prediction markets is indicative of a growing “distrust of traditional news” and a shift in the way people seek information.

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Full story available on Benzinga.com