Stock trading app Robinhood is boosting its predictions market offering through the launch of a futures and derivatives exchange and clearinghouse.
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The exchange will be managed by a joint venture, with Robinhood Markets serving as the controlling partner and Susquehanna International Group brought on as a partner and day-one liquidity provider.
To help ensure a 2026 launch, the JV is buying a 90% stake in MIAXdx, a CFTC-licensed derivatives exchange.
MIAXdx was originally called LedgerX and owned by bankrupt crypto giant FTX before being taken over in 2023 by Miami International Holdings, which will retain a 10% stake in the venture.
Robinhood says that its prediction markets business has quickly become its fastest-growing product line by revenue. Just one year since launch, nine billion contracts have been traded by more than a million Robinhood customers.
Says a statement: “By introducing a robust, institutional-grade exchange to the market, we’ll add more choices for consumers. We’ll also gain the flexibility to build faster and deliver more contracts and services to traders.”
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