Robinhood is preparing to expand its footprint in prediction markets by launching a new derivatives exchange through a joint venture with Susquehanna International Group. The move marks one of the company’s most ambitious pushes into regulated futures and derivatives trading.
In an announcement on Tuesday, Robinhood said the venture will be controlled by Robinhood Markets Inc. and will acquire MIAXdx, a designated contract market regulated by the Commodity Futures Trading Commission. The deal also includes MIAXdx’s Derivatives Clearing Organization and its Swap Execution Facility, all purchased from Miami International Holdings. MIAX will keep a 10 percent equity stake in the newly created exchange.
Susquehanna will step in as the primary liquidity provider from day one, with additional partners expected to join as the exchange prepares for its planned 2026 launch. Once operational, the platform will offer a range of futures and derivative products, including prediction markets that allow traders to speculate on outcomes in areas such as politics, economics, and sports.
JB Mackenzie, vice president and general manager of futures and international at Robinhood, said the company is responding directly to what customers want. According to him, user engagement with prediction markets has been strong enough to justify investing more heavily in exchange infrastructure.
Prediction markets have quickly become Robinhood’s fastest-growing business line by revenue. The company reports more than 9 billion contracts traded to date by over one million customers. Earlier this year, Robinhood teamed up with Kalshi to introduce a dedicated prediction market hub, covering U.S. political events, economic data releases, and sports outcomes. The partnership expanded in August to include markets tied to NFL and NCAA football.
Industry analysts say the sector is shifting beyond simple wagering and evolving into broader information markets. Bernstein researchers recently pointed to rising trading volumes on platforms like Robinhood and Kalshi as a signal that prediction markets are gaining mainstream traction.
Data shows that Kalshi, which operates under U.S. regulatory oversight, has led the market in monthly volume since September. In October, it reported 4.4 billion dollars in trading activity, topping Polymarket’s 3.02 billion dollars.
With the new exchange on the horizon, Robinhood appears set on securing a larger role in this fast-expanding corner of the financial world. As the company builds out its infrastructure, customers may soon see more structured ways to trade on real-time information and future events.
