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Charles Schwab, Citadel Securities Weigh Entering Prediction Markets
Authored by Jesse Coghlan via CoinTelegraph.com,
Traditional finance giants Charles Schwab and Citadel Securities are both considering entering prediction markets, with each separately weighing up how they wish to get involved in the fast-growing sector.
“I think at some point we likely will have prediction markets,” Rick Wurster, the CEO of the banking and investing titan Schwab, told investors during a call on Thursday.
He added that prediction markets weren’t “of tremendous interest” when he recently asked a group of Schwab clients about them, but it was an area the company would “take a hard look at, and it would be quite straightforward for us to offer.”
Charles Schwab CEO Rick Wurster speaking to CNBC after the company launched Bitcoin and Ether trading on Thursday. Source: CNBC
Prediction markets such as the popular Kalshi and Polymarket have exploded in use over the past few months, with both platforms seeing a record combined total monthly trading volume of $23.6 billion in March, according to Token Terminal.
However, Kalshi, Polymarket and other prediction market platforms have also caught the ire of some US state regulators, who have accused them in court of offering unlicensed sports betting.
Some federal lawmakers have also vowed to crack down on prediction markets, claiming the platforms weren’t doing enough to stamp out insider trading.
Wurster said Schwab’s potential offering would steer away from allowing bets on areas such as sports, politics and pop culture as it looks to position itself as a partner for building long-term wealth.
“Prediction markets that are not aligned to that are not something that we want to pursue,” he said.
“If you look at the stats on the success of gamblers, they're not strong, and people generally lose money.”
Citadel “keeping an eye” on prediction marketsMeanwhile, Citadel Securities president Jim Esposito said at a Semafor conference in Washington, DC, on Thursday that the company is “absolutely keeping an eye on developments” in prediction markets.
Citadel Securities president Jim Esposito speaking at the Semafor World Economy conference on Thursday. Source: YouTube
“We're not there yet, there's not that much liquidity,” he added, but said that the market is likely to “ramp and scale,” and it was “certainly possible” that the market-making firm would potentially look to get involved.
Esposito said Citadel was “not looking at sports at the moment at all, I don't see us entering that market,” but did signal an interest in some event contracts.
He added that Citadel could see its retail and institutional clients use some event contracts as a hedge for risks to their investments, such as contracts for elections, which have been known to move markets.
“That's going to be some of the biggest risks to investors' portfolios that they're going to have to grapple with,” Esposito said. “Having a clean and distinct way to hedge certain risks, I think there's a good use case and industrial logic to it.”
Tyler Durden Mon, 04/20/2026 - 15:40Gunman Kills Canadian Tourist At Popular Mexican Pyramid Site
Local Mexican outlet Milenio reports an "armed attack" at the Teotihuacan archaeological site, located in central Mexico about 25 miles (40 kilometers) northeast of Mexico City, in the State of Mexico.
Details are scant, but preliminary reports say the attacker climbed the Pyramid of the Moon and fired at tourists.
"Confirmed that the fatality from the armed attack at the Teotihuacan Archaeological Zone is of Canadian nationality," Milenio wrote on X around 1513 local time.
🔴 #ÚLTIMAHORA | Confirman que víctima mortal por ataque armado en Zona Arqueológica de Teotihuacan es de nacionalidad canadiense
📺 La información con @taniadiazs pic.twitter.com/g1FXmGdpvG
Live feed from the outlet:
Ahora | #MILENIONoticias con @taniadiazs
https://t.co/dVNwbKoBYj
Preliminary reports provided no further information on whether the attack was linked to drug cartels.
If you're traveling to Mexico, it's probably smart to get K&R insurance.
*Developing...
Tyler Durden Mon, 04/20/2026 - 15:37Senators vs. Hurricanes Game 2 prediction: NHL picks, odds, best bets for Stanley Cup Playoffs
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Hormuz Traffic At Standstill After US Ship Seizure
Confirming the Schrodinger nature of the notorious waterway, the Strait of Hormuz is now just closed even more than before Iran and the US said the vital oil channel had been reopened.
Traffic through the strait on Sunday and Monday was reduced to a trickle following a Saturday surge, after Tehran rejected a continuing US naval blockade and moved to seal the waterway again. The reduced movement underscores just how quickly hopes unraveled that cargoes could once again resume.
On Friday, Iran’s Foreign Minister Abbas Araghchi said the strait was “completely open” for commercial shipping, while US President Donald Trump said Iran was removing sea mines from the waterway. That prompted oil prices to plunge and dozens of tankers to race toward the strait at the mouth of the Persian Gulf. But Iran quickly declared that the passage was closed again as it emerged that the US operation in place since April 13 would not be lifted.
And rejected: the two tankers taking the neutral route, Minerva Evropi and Nissos Keros, have turned around; the Sanmar Herald which appears to be taking the Iran-sanctioned Larak island route is proceeding. https://t.co/aceBI7ki0B pic.twitter.com/gmkM37iA1U
— zerohedge (@zerohedge) April 18, 2026The Hormuz crisis flared again over the weekend after the US Navy seized an Iranian vessel, during a turbulent period marked by Iranian forces firing at ships and reimposing controls across the strait. The developments pushed oil and natural gas prices higher after Friday’s big declines, reflecting fears of prolonged supply constraints.
The chaotic, start-stop nature of ship traffic through the strait underscores just how difficult it will be to fully restore oil and gas flows that are vital to the global economy, where energy producers need to have visibility months in advance before restarting production.
According to Bloomberg, just two liquefied petroleum gas carriers and two oil product tankers moved through the strait in both directions on Monday. The previous day, two LPG vessels and a cruise liner sailed out of the gulf, while no inbound transits were seen.
The Gas Harmony, an LPG carrier, went dark inside the gulf on Saturday morning but reappeared off the coast of Oman on Monday, indicating that the vessel transited the strait in the interim. The Liberia-flagged ship is owned and managed by Athens-based Gas Harmony Shipping Ltd., according to maritime database Equasis.
Greek and Iranian LPG ships departed the gulf on Sunday along with the European passenger liner, not listed in the charts. Subsequent observations until Monday afternoon, London time, identified further outbound movement by an Iranian product tanker and a second LPG ship.
At least three Mediterranean Shipping Co. containerships and a MSC cruise liner, along with a handful of other passenger vessels, appeared to have exited the gulf on Saturday, hugging the Omani coastline. That was a deviation from the corridor approved by Iran during the short-lived opening of the waterway. Another MSC containership remains off-grid after it stopped signaling inside the gulf. The company didn’t respond to a request for comment.
Six cruise ships clear Strait of Hormuz during brief reopening
A flotilla of cruise ships stranded in Gulf ports since late February has now cleared the Strait of Hormuz, taking advantage of a brief reopening of the waterway before tighter controls returned.
According to… pic.twitter.com/nvnhG4JrkW
Diplomatic momentum has wavered after Tehran signaled hesitation regarding a second round of talks in Pakistan, amid the ongoing American blockade of Iranian traffic and the vessel seizure.
The commercial vessels entering Hormuz with active AIS signals during the past day were confined to a narrow northern lane near the Iranian islands of Larak and Qeshm, the route approved by Tehran.
The inbound transits on Monday included an Iranian LPG ship and a fuel tanker.
Tyler Durden Mon, 04/20/2026 - 15:20