In an exhilarating move that positions them firmly within the dynamic realm of cryptocurrency, Robinhood Markets and Susquehanna Group have struck a deal to acquire a whopping 90% stake in the regulated exchange LedgerX from Miami International Holdings. This partnership not only signifies Robinhood’s deepening involvement in crypto markets but also highlights the soaring interest in prediction platforms—a form of trading that allows participants to bet on the outcomes of future events.
At the heart of this agreement is the establishment of a new joint venture, wherein LedgerX will operate as an independent exchange under Robinhood’s control, while Miami International will retain a strategic 10% stake. The financial specifics of this deal have not been disclosed, yet its implications are already resounding within the crypto community.
Previously, LedgerX was intertwined with the infamous FTX crypto exchange before its dramatic collapse. Miami International rescued the exchange from FTX’s bankruptcy proceedings in 2023, acquiring it for $50 million and integrating it into its broader operations. What’s particularly notable about this acquisition is that it includes MIAXdx, the entity of LedgerX that holds approvals as a Designated Contract Market, Derivatives Clearing Organization, and Swap Execution Facility—providing Robinhood and Susquehanna with a ready-to-use regulatory framework. You can learn more about this acquisition in detail at [CoinDesk](https://www.coindesk.com).
“Robinhood is introducing a new futures and derivatives exchange and clearinghouse, deepening our investment in Prediction Markets and better positioning us to deliver innovative products to our customers.” More in our newsroom: https://t.co/Hqv6EMXZiD — Robinhood (@RobinhoodApp) November 25, 2025
As anticipation builds, Robinhood is setting its sights on revolutionizing how traders engage with prediction markets. The new venture aims to launch a futures and derivatives exchange specifically designed to cater to these markets, serving not just Robinhood’s own derivatives but also functioning as a hub for other futures commission merchants. Expected to commence operations in 2026, this venture could well become an institutional-grade venue, transforming how traders speculate on real-world events through cryptocurrency-style contracts.
According to JB Mackenzie, Robinhood’s VP and General Manager of Futures and International, “Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum.” The enthusiasm surrounding this new venture is backed by impressive internal statistics: in its first year, Robinhood’s customers traded around 9 billion contracts across over 1 million accounts, making event contracts their fastest-growing product line by revenue. This success clearly fuels Robinhood’s confidence in expanding its infrastructure to elevate user experiences even further.
Joining hands with Robinhood, Susquehanna will act as a key liquidity provider from day one, ensuring competitive execution quality and tight spreads. As more market makers join the fray over time, both retail investors and institutional clients will benefit from improved trading conditions. This strategic alliance comes at a time when prediction markets are enjoying newfound attention, having transitioned from niche crypto corners to mainstream finance, particularly after a federal court dismissed a prior Commodity Futures Trading Commission ban on election-related betting.
Major players in traditional finance are also taking notice. The Intercontinental Exchange, which owns the New York Stock Exchange, recently committed up to $2 billion to Polymarket, while Kalshi—an emerging heavyweight in the sector—has been valued at an astonishing $11 billion following its latest funding round. The movement into prediction markets is not only gaining traction through investments but also with heavyweight exchanges like CME Group and Cboe outlining their own plans to delve into event contracts.
Even technology giants are amplifying visibility in this evolving market. Google Finance is set to provide real-time data from platforms like Polymarket and Kalshi, allowing users to access crowd-sourced odds on future events, thus enhancing engagement with both traditional market data and prediction markets. For Robinhood and Susquehanna, their collaboration through the LedgerX acquisition serves as a gateway into this burgeoning ecosystem—a perfect melding of retail crypto enthusiasm and institutional trading prowess within a fully licensed derivatives format.
As we look ahead, the future of prediction markets appears incredibly promising. With Robinhood and Susquehanna leading the charge, we may witness significant innovations and opportunities for traders eager to capitalize on real-world events. Will you be ready to take part in this evolving landscape? Stay tuned for more updates as this story develops! 🚀