Press Coverage December 22, 2025

Charles Schwab CEO Rick Wurster Says Prediction Markets are ‘95% Sports Gambling’

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Stephen C. Piepgrass

Stephen Piepgrass, leader of Troutman Pepper Locke’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, was quoted in the December 22, 2025 CasinoBeats article, “Charles Schwab CEO Rick Wurster Says Prediction Markets are ‘95% Sports Gambling’.”

  • “A year and a half, maybe two years for these cases to work their way through the courts, for a circuit split to develop, and then for the Supreme Court to decide to take it,” he said. “So, easily two years — maybe more. We’re going to have a significant period of time where operators, investors, and the public are operating in the gray.”

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