Robinhood Markets and Susquehanna International Group reached an agreement to acquire an exchange platform regulated and managed by Miami International Holdings, which represents an important boost for both companies in their consolidation in the prediction markets.
The companies acquire a 90% stake in LedgerX, which was part of the now-defunct cryptocurrency exchange platform FTX. The platform began operating under the MIAX umbrella after its parent company, Miami International Holdings, acquired LedgerX following FTX’s bankruptcy proceedings in 2023 for $50 million.
“Robinhood is seeing strong customer demand for prediction markets, and we are excited to build on this momentum,” said JB Mackenzie, vice president and general manager of futures and international at Robinhood.
Robinhood announced that, following the transaction, it will introduce a futures and derivatives exchange and clearinghouse in a joint venture with Susquehanna. Financial details of the transaction were not disclosed, but MIAX will retain a 10% stake in LedgerX.
“Thanks to our retained equity stake, the transaction announced today will provide MIAX with access to the growing prediction markets on an accelerated basis,” said Thomas Gallagher, President and CEO of MIAX.
You may be interested in: Robinhood’s plan to dominate the world, powered by cryptocurrencies
Transaction to acquire LedgerX will conclude in 2026
“Robinhood is seeing strong customer demand in prediction markets, and we are excited to build on this momentum,” said JB Mackenzie, vice president and general manager of futures and international at Robinhood.
The transaction is expected to close in the first quarter of 2026, and the exchange will begin trading later that year.
These measures come at a time when the business of prediction markets is attracting unprecedented general interest in the US. Prediction markets have received a big boost since a US federal court threw out the CFTC’s ban on election betting last year.
In November, InPlay Global, a new platform that allows investors to trade securities linked to the performance of sports teams, signed a partnership with exchange operator MEMX ahead of the launch of its trading platform next year.
In October, Intercontinental Exchange invested up to $2 billion in Polymarket, the world’s largest prediction market, marking the New York Stock Exchange owner’s expansion into event-based markets.
Kalshi, another prediction market heavyweight, was valued at $11 billion in its latest funding round, according to a TechCrunch report published last week.
CME Group and CBOE also plan to enter the prediction markets.
With information from Reuters
Do you use Facebook more? Leave us a like to be informed
