Robinhood is introducing a futures and derivatives exchange and clearinghouse, deepening our investment in Prediction Markets and better positioning us to deliver innovative products to our customers. 

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

The independent exchange will be managed by a joint venture with Robinhood Markets, Inc. serving as the controlling partner and providing strong retail demand and distribution. Market making leader Susquehanna International Group has been brought on as a key partner and day-one liquidity provider, with other liquidity providers to be added to ensure the best possible execution for customers.

The venture will accelerate delivery of its services by acquiring MIAXdx, a CFTC-licensed Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF), and wholly-owned subsidiary of Miami International Holdings, Inc. (MIAX) (NYSE: MIAX). MIAX will remain invested through a strategic 10% equity stake in the exchange. 

Prediction Markets have quickly become Robinhood’s fastest-growing product line by revenue. Just one year since launch, 9 billion contracts have been traded by more than 1 million Robinhood customers. By introducing a robust, institutional-grade exchange to the market, we’ll add more choices for consumers. We’ll also gain the flexibility to build faster and deliver more contracts and services to traders.

The exchange will serve Robinhood Derivatives and other FCMs, and is expected to begin operations in 2026. 

Source: Robinhood Markets

Miami International Holdings Announces Sale Of MIAXdx to Robinhood Markets

Miami International Holdings, a technology-driven leader in building and operating regulated financial markets across multiple asset classes, announced it has entered into an agreement to sell 90% of the issued and outstanding equity in MIAX Derivatives Exchange (MIAXdx™), a wholly owned subsidiary of MIAX, to Robinhood Markets, Inc in partnership with Susquehanna International Group. MIAX will retain the remaining 10% of the issued and outstanding equity of MIAXdx.

MIAXdx is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) with regulatory approval from the Commodity Futures Trading Commission (CFTC) to list and clear fully collateralized futures, options on futures and swaps.

“Through our retained equity stake, the transaction announced today will provide MIAX with access to the growing prediction markets on an expedited basis,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. “The transaction with Robinhood closely aligns with our strategy of partnering with industry leaders to offer innovative trading products to the market, and we’re excited about the opportunity to gain exposure to prediction markets through this initiative. The transaction represents a logical step forward for MIAX as we continue to focus on strategic growth opportunities within our core exchanges.”

“We’re excited to continue working with MIAX as investors in this exchange,” said JB Mackenzie, VP and GM of Futures and International at Robinhood. “MIAX is a market leading exchange operator and we look forward to exploring future partnership opportunities to deliver products that meet the needs of Robinhood’s customers.”

Mr. Gallagher added, “We have evaluated alternatives to facilitate our entry to the prediction markets, and we believe that today’s strategic alignment is the right lever for offering institutional and retail futures traders exposure in the growing prediction markets while providing MIAX with potential long-term value.”

The transaction is expected to close in the first quarter of 2026 and is subject to customary closing conditions and certain filings with the CFTC.

Source: MIH