Robinhood and Susquehanna to launch their own prediction exchange after buying MIAXdx

Key points:

• Robinhood and Susquehanna have acquired a controlling stake in MIAXdx.
• Since the launch of prediction markets in spring 2025, Robinhood customers have entered into approximately $9 billion worth of contracts.
• The new prediction market exchange will launch in 2026.

Robinhood, together with Susquehanna International Group, has acquired a 90% stake in the MIAXdx derivatives exchange, part of Miami International Holdings. MIAX will retain 10% of the shares. Thanks to the deal, the partners are moving to manage the prediction contract infrastructure themselves and will be able to develop the platform without involving third-party exchanges.

For Robinhood, this decision is an important part of its strategy: the company is actively expanding its prediction markets business. In the nine months since the platform’s launch, users have entered into approximately 9 billion contracts, and the number of participants trading predictions has exceeded one million.

Source: X.com

According to the company’s reports, traders executed approximately 2,3 billion event contracts in the third quarter, more than double the previous quarter’s results. Robinhood emphasizes that prediction markets are one of the fastest-growing areas of their business.

How Robinhood is entering the prediction contract market

MIAXdx is a CFTC-licensed platform that allows trading in futures, options, and swaps. It was previously owned by FTX, but after the deal, it will become the base platform for Robinhood’s own prediction exchange, which is scheduled to launch in 2026.

JB Mackenzie, who heads Robinhood’s international and futures divisions, explained that the company had considered several models for entering the prediction markets. According to him, the purchase of MIAXdx was the optimal solution, allowing the company to create its own infrastructure and offer users an expanded set of tools.

Susquehanna will act as a liquidity provider from the first day of the new platform’s operation. The company currently performs a similar function on Kalshi, a partner exchange through which Robinhood offers futures contracts.

The acquisition of MIAXdx by Robinhood and Susquehanna will allow the platform to launch its own products independently. After the launch of the new exchange, Robinhood’s futures will be traded directly through its own listing and settlement mechanisms.