Robinhood and Susquehanna Acquire Stake in MIAX to Launch Prediction Markets Exchange
Robinhood Markets and Susquehanna International are making a strategic push into prediction markets by acquiring a 90% stake in MIAX Derivatives Exchange. The deal positions Robinhood to expand beyond its current partnership with Kalshi, gaining direct control over contract listing and clearing operations.
The platform has seen explosive growth since March 2025, processing 9 billion prediction market contracts through over 1 million active users. Q3 volumes hit 2.3 billion event contracts - more than double the previous quarter's activity.
Susquehanna will serve as day-one liquidity provider when the new exchange launches in 2026. Miami International Holdings retains a 10% stake in the venture, which inherits infrastructure from the collapsed FTX exchange.
