Robinhood & Susquehanna Make Bold Moves in Prediction Markets

Robinhood and Susquehanna are acquiring 90% of LedgerX and MIAX Derivatives Exchange, expanding into prediction markets and futures trading, with rapid growth and plans to launch a new exchange in 2026.

Robinhood and Susquehanna International Group are acquiring a 90% stake in LedgerX, a regulated cryptocurrency derivatives exchange previously owned by FTX and now managed by Miami International Holdings. This move provides Robinhood with key regulatory licenses for futures trading and positions the company to expand into prediction markets, offering event-driven crypto contracts to both retail and institutional clients. The acquisition also includes a 90% stake in MIAX Derivatives Exchange, giving Robinhood and Susquehanna direct control over listing and clearing prediction-related contracts. Susquehanna will serve as the primary liquidity provider, while Miami International Holdings retains a 10% stake. Robinhood’s prediction markets have seen rapid growth, with over 9 billion contracts traded by more than 1 million users since March, making it the company’s fastest-growing revenue stream. The new exchange is expected to launch in 2026, intensifying competition with platforms like Kalshi, Polymarket, and Coinbase. Analysts believe these moves will allow Robinhood to capture a larger share of the prediction markets sector.