Robinhood is significantly expanding its focus on prediction markets by entering a joint venture with Susquehanna International Group to establish a new futures and derivatives exchange and clearinghouse.
Key Details of the New Venture:
- Acquisition: The joint venture, which will be controlled by Robinhood, is set to acquire MIAXdx, a Derivatives Clearing Organization and Swap Execution Facility, from Miami International Holdings. MIAXdx is licensed by the Commodity Futures Trading Commission (CFTC).
- Ownership & Liquidity: MIAX will retain a 10% equity stake in the new exchange. Susquehanna will serve as a day-one liquidity provider.
- Products & Timeline: The exchange will offer futures and derivatives products, including prediction markets, and is scheduled to begin operations in 2026.
Robinhood states that prediction markets are its fastest-growing product line by revenue, having seen over 9 billion contracts traded by more than 1 million customers.
“Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum,” said JB Mackenzie, VP and general manager of futures and international at Robinhood.
This expansion builds on Robinhood’s existing partnership with Kalshi, which helped launch a prediction-markets hub on the Robinhood Derivatives app earlier this year, covering politics, macroeconomics, and sports.
The move aligns with broader market trends, as analysts suggest prediction markets are evolving into major information trading venues. U.S.-regulated Kalshi is currently leading in monthly volume among major platforms, recording $4.4 billion in volume in October, surpassing Polymarket’s $3.02 billion.
