Many students get their first look at the stock market through an app that also lets them bet on Sunday’s football game. As brokerages add prediction markets alongside stocks and ETFs, the line between investing and gambling is getting harder for students to see. Not every firm is following that path, and the CEO of Schwab says young investors are not asking it to: a third of the people who downloaded the firm’s most popular article of the year, a primer on bond investing, were under 24.

In the Wall Street Journal video, Why Charles Schwab CEO Is Worried About Young Investors, Schwab CEO Rick Wurster argues there is “a really bright line between gambling and investing” and explains why his firm has held off on offering prediction markets, even as competitors race to add them.

Click these links to access the video, student guide, and answer key

Wall Street Journal Video | NGPF Student Viewing Guide + Answer Key

Video Length: 8:49

Discussion Questions

Use these to spark conversation after students watch:

1. Do you think there is a clear difference between investing and gambling? Where would you draw the line, and why?
2. Should brokerage firms be responsible for steering young investors away from high-risk products like prediction markets? Why or why not?

This video pairs well with NGPF’s Investing unit.

This resource was created through NGPF’s partnership with Dow Jones, bringing high quality financial journalism into personal finance classrooms across the country for free.

Every WSJ Wednesday, NGPF will highlight a classroom-ready article, video, or data crunch resource from the Wall Street Journal, MarketWatch, or Barron’s, including a student guide, discussion questions, and an answer key.

About the Author

Yonathan Tadesse

Yonathan is a Dallas-based Curriculum Designer at NGPF with 12 years of experience as a high school math, college transition, and financial literacy teacher. An award-winning educator, he has a track record of launching innovative programs at the high school level that expand access and opportunity for students. He is a graduate of Emory University and is passionate about advancing financial education for all students. Outside of work, Yonathan loves spending time with his wife and two kids, working out, playing chess and poker, and learning new things.

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