Robinhood CEO Vlad Tenev has defended trading against claims that it should be treated as gambling as the brokerage takes on a role in the U.S.
Summary
- Robinhood is helping operate Trump Accounts as it seeks deeper ties with younger American investors.
- Tenev rejects labeling all trading as gambling, arguing speculation remains necessary for functioning financial markets.
- Robinhood is expanding beyond stocks and crypto into prediction markets, tokenization, banking, and global finance.
Government’s new Trump Accounts program. The accounts are designed to help children start investing early as Robinhood broadens its business beyond retail trading.
In an interview with The New York Times, Tenev said Robinhood is working with the government to operate the accounts. He also said more than 90% of his personal net worth remains invested in Robinhood shares. His comments come as the company expands into prediction markets, tokenized assets and other financial services.
Robinhood takes a role in Trump Accounts
Trump Accounts are tax-deferred investment accounts created for children. Those born from 2025 through 2028 can receive a $1,000 government contribution. Robinhood helped develop the app used to manage the program, while families can begin making contributions after account activation. The company has presented the program as an effort to bring people into long-term investing.
Tenev sees the government partnership as a way to reach a new generation of users. Robinhood became linked with younger retail traders during the pandemic, when activity in stocks, options and cryptocurrencies rose sharply. The company now wants to build a broader relationship with customers that extends beyond short-term trading and into long-term financial products.
Tenev rejects a simple link between trading and gambling
Tenev pushed back against criticism that Robinhood encourages younger users to “gamble” through financial markets. He argued that trading should not automatically be described as gambling. He said speculation plays a core role in markets because buyers and sellers make predictions about future prices when deciding where to place capital.
The debate has become more relevant as Robinhood expands its prediction market business. As reported by crypto.news, Bernstein projected that Robinhood’s prediction market revenue could reach $586 million in 2026, up from about $150 million in 2025. The growth has brought more attention to the line between regulated trading, event contracts and betting.
Robinhood works to move beyond its meme-stock image
Robinhood became closely associated with the 2021 meme-stock boom and the GameStop trading episode. Tenev said the company is now trying to move past that image and build a platform that can cover a wider range of assets and financial transactions. Its recent product launches show how far the company is extending beyond its original commission-free brokerage model.
Robinhood launched Robinhood Chain on July 1 as an Ethereum layer-2 network focused on tokenized real-world assets. The company has also gained approval for Robinhood Securities to act as an IPO underwriter, as reported by crypto.news. Those moves give Robinhood roles in trading, blockchain infrastructure and capital markets as it builds a wider financial platform.
Tenev keeps most of his wealth tied to Robinhood
Tenev told The New York Times that more than 90% of his personal net worth is held in Robinhood shares. The statement gives context to his long-term position on the company as Robinhood expands into new markets and products. The company’s shares have also drawn attention after a strong rally during its broader product push.
As reported by crypto.news, Tenev sold 375,000 Robinhood shares on July 6 through a Rule 10b5-1 trading plan adopted in September 2025. He still held more than 48.2 million Class B shares after the transaction. Robinhood’s latest strategy now combines retail trading, prediction markets, tokenization and government-backed investment accounts as the company seeks a larger role in global finance.
