Tim Stenevik

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We're going to stay with Robinhood because the company this week rolled out updates to its AI assistant and prediction market offerings.

In fact, prediction markets are now Robinhood's fastest growing product line by revenue, with analysts at Citizens expecting five-fold growth by 2030.

So joining us live on the heels of that announcement is the CEO of Robinhood, Vlad Tenev.

And my Bloomberg Crypto co-host, Tim Stenevik, joins us now as well.

Vlad, it's great to speak with you.

And I want to start with these sports wagering capabilities that you've added to your suite of offerings here, these preset combination contracts for professional football games, NFL games.

It sounds like this is your version of parlays that are offered by traditional sportsbooks.

So what is the difference between a combination trade and a parlay?

Well, we've had a few incidents now of alleged insider trading in prediction markets.

Do you think insider trading poses a risk to fairness in prediction markets, or could it help ensure market accuracy by allowing those with privileged information to participate?

Vlad, I'm wondering about prediction markets and specifically Robinhood and others too, if they offer enough protections to consumers against addictive betting.

How do you solve for that at Robinhood?

It's an incredibly competitive space, Vlad.

I don't need to tell you that.

And you have companies and people being minted billionaires as a result of the competitive space right now.

I'm wondering about the dynamics and how you view the competitive dynamics and whether you have an edge after acquiring Ledger X. Talk about that a little bit.