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Im guessing their argument would be that while a majority of people know what they're doing / the risk they are exposed to, a lot of people are seeing the gains online right now and are jumping into it blindly. Big difference between WSBers buying in at 10-30$, and people from all around the internet now buying in at 300$

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Back in 1999 when Red Hat went IPO (dsiclaimer: I had FoC options), eTrade denied a very large swath of first-time investors with their platform trying to take advantage of Red Hat's FoC share options; I was one of them.

There was a followup round of reach-out "hey, you might want to take this quiz again and maybe we'll let you play" (meaning go answer the questions and lie that you're an experienced investor) to try and get the disenfranchised back into the game.

...and yet cigarettes are still legal.

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