Robinhood Fixer Dan Gallagher Takes On His Old Frenemy at SEC

Dan Gallagher and Gary Gensler used to catch the same commuter train to Washington -- Gallagher bound for one federal agency, Gensler for another.

Today, the commuting buddies from metro Baltimore are running on very different tracks.

Dan Gallagher

Photographer: Andrew Harrer/Bloomberg

A Republican, Gallagher has spun through Washington’s revolving door into a $30 million position as chief legal officer at Robinhood Markets Inc., whose free trading app has drawn millions of novice investors to meme stocks, cryptocurrencies and more, sometimes with devastating results.

Gensler, a Democrat, has moved up in Washington to become chair of the Securities and Exchange Commission -- with ...