Key Highlights
- Robinhood partners with Susquehanna to launch a U.S.-regulated futures and derivatives exchange.
- MIAXdx acquisition gives Robinhood control; Susquehanna provides day-one liquidity. The exchange is expected to launch in 2026.
Robinhood is expanding deeper into prediction markets through a new joint venture with trading giant Susquehanna International Group (SIG).
The companies plan to launch a U.S.-regulated futures and derivatives exchange, along with a clearinghouse, by acquiring MIAXdx, a CFTC-licensed platform currently owned by Miami International Holdings. This move positions Robinhood to directly compete in the rapidly growing market for event-based trading.
Under the deal, Robinhood will control the venture, while MIAX keeps a 10% stake. Susquehanna will act as a day-one liquidity provider to help support trading activity, with more market makers expected later. The exchange is aiming to begin operations in 2026.
Robinhood’s VP and General Manager of Futures and International, JB Mackenzie, said the company is seeing strong customer demand for prediction markets and is excited to build on that momentum. He added that their investment in infrastructure will help “to deliver an even better experience and more innovative products for customers.”
Where finance meets crypto trading
Prediction markets are becoming more popular in both traditional finance and crypto, allowing traders to place bets on real-world events, from elections and sports to economic data.
In the crypto space, platforms like Polymarket have made this kind of trading more common, letting users bet on everything from elections and sports to economic data. Increased interest has prompted regulated companies to develop their own versions.
Earlier this year, it partnered with Kalshi, a CFTC-regulated competitor to on-chain markets, to offer event contracts tied to politics, economic indicators, and sports through Robinhood Derivatives. The two expanded that lineup in August with new NFL and NCAA football markets.
Robinhood’s new exchange is launching at a time when the line between traditional derivatives and blockchain-style prediction trading is getting thinner. The move could intensify the competition between the two models as more retail traders look for ways to bet on real-world events.
Why this matters
Prediction markets are becoming an important bridge between traditional finance and the crypto world, and more major players are jumping in.
Coinbase is developing a prediction-market product via its derivatives arm, while Gemini is seeking regulatory approval from the CFTC for its Gemini Titan exchange.
Platforms like Robinhood and Kalshi are gaining traction, even as on-chain markets such as Polymarket continue attracting crypto users with faster settlements and flexible trading options.
Competition between regulated and decentralized markets is only going to heat up, as Robinhood is preparing to launch its own CFTC-licensed exchange. How these platforms continue to be developed will help determine where traders go and how event-based markets come into their own in both TradFi and crypto.
Also Read: CFTC Chair is Looking For CEOs to Join New Innovation Council
