Robinhood and Susquehanna's Bold Move: Dominating the Prediction Market Arena

Robinhood Markets and Susquehanna International Group have acquired a 90% stake in LedgerX from Miami International Holdings, marking a significant step in their expansion into prediction markets. This acquisition comes as interest in prediction markets grows, with major companies investing heavily in the sector.

In a strategic move to cement their presence in prediction markets, Robinhood Markets and Susquehanna International Group announced a significant acquisition on Tuesday. They have taken control of a regulated exchange previously operated by Miami International Holdings.

The companies have acquired 90% of LedgerX, which formerly belonged to the now-defunct FTX crypto exchange. After Miami International Holdings bought LedgerX from the FTX bankruptcy for $50 million in 2023, the platform continued operations under the MIAX brand. Robinhood plans to leverage this acquisition by introducing a futures and derivatives exchange and clearinghouse.

This development comes amid a growing interest in prediction markets in the U.S., especially following the green light on election betting from a federal court. The transaction is slated to close in early 2026, with the exchange operational by then, positioning Robinhood and Susquehanna as key players in this burgeoning market sector.

(With inputs from agencies.)