Robinhood to launch new derivatives exchange for prediction markets push

Robinhood is deepening its foray into prediction markets by partnering with Susquehanna International Group to launch a new joint venture that will establish a futures, derivatives exchange, and clearinghouse.

In a statement released Tuesday, Robinhood said that the joint venture will be controlled by Robinhood Markets Inc. and will acquire MIAXdx, Derivatives Clearing Organization and Swap Execution Facility from Miami International Holdings. MIAXdx is a designated contract market licensed by the Commodity Futures Trading Commission.

Under the plan, MIAX will retain a 10% equity stake in the new exchange. Susquehanna will serve as a day-one liquidity provider, with additional liquidity partners to follow. The new exchange is expected to offer futures and derivative products, including prediction markets, and is set to begin operations in 2026.

“Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum,” JB Mackenzie, VP and general manager of futures and international at Robinhood, said in the statement. “Our investment in infrastructure will position us to deliver an even better experience and more innovative products for customers.”

Robinhood noted that prediction markets have become its fastest-growing product line by revenue, with more than 9 billion contracts traded by over 1 million customers to date. The Block has reached out to Robinhood for further details on the upcoming exchange.

In March, Robinhood partnered with Kalshi to launch a prediction-markets hub within its app via Robinhood Derivatives, covering U.S. politics, macroeconomic indicators, and sports. In August, it rolled out sports-related markets tied to the NFL and NCAA football, also in collaboration with Kalshi.

Analysts at Bernstein said earlier this month that prediction markets are evolving beyond simple event betting into broader information trading venues. The analysts observed surging volumes across platforms like Robinhood and Kalshi, suggesting growing mainstream acceptance of prediction markets.

U.S.-regulated Kalshi has outpaced rival Polymarket in monthly volume since September, according to The Block’s dashboard. In October, Kalshi recorded $4.4 billion in volume, compared with Polymarket’s $3.02 billion.