Which is part of why gambling is as regulated as it is. Robinhood has made trading so easy that it is effectively a gambling platform that doesn't have to adhere to gambling laws.

I wouldn't blame robin hood. It's not like the TD ameritrade app is any more difficult to blow your money with, yet they are getting a pass in this thread due to them being the institution and robinhood being a new and popular face.

gambling is regulated at the state level almost exclusively, which is almost impossible for the financial markets over the last century.

and in the financial markets, the federal government already has classist gatekeeping regulations because "poor people are dumb, rich people are smart", which should all be abolished

the finger pointing at Robinhood is based on ignorance of the entire sector.

to elaborate, federal financial regulatory gatekeeping is more about "not-rich people have life altering consequences", but to get over those hurdles and make your own choices is based on a baseless wealth and intelligence gap.

and of course, the observation that not-rich people have plenty of ways to lose their money in systems with negative expected value, so why apply that to financial systems with positive expected value.