GameStop Prompts Firms in Robinhood’s Orbit to Turn to K Street

The GameStop Corp. stock price frenzy that’s roiled Robinhood Markets Inc. and pulled other industry players into the mix is spurring the need to improve their images with Congress.

The relationship Robinhood, a retail trading app, has with entities such as hedge funds and high-frequency trading firms raised additional questions about its motives and exposed the high finance industry to heightened attention from Capitol Hill it doesn’t normally receive.

Industry leaders will be forced to respond this month at a House Financial Services Committee hearing on the recent volatility, as well as at one expected to come in the Senate ...