Robinhood Deepens Bet on Prediction Markets With New CFTC-Regulated Platform

Robinhood is preparing to reshape its fast-growing prediction markets business through a new venture built alongside Susquehanna International Group.

The partnership will form a fully regulated futures and derivatives exchange – complete with its own clearinghouse – marking Robinhood’s biggest step yet toward becoming a player in U.S. market infrastructure.

A New Exchange Built From MIAX Assets

As part of the plan, the venture will acquire MIAXdx, a designated contract market licensed by the Commodity Futures Trading Commission, along with its clearinghouse and swap execution facility. The assets are being purchased from Miami International Holdings, which will retain a 10% stake in the new exchange. Robinhood will control the venture, while Susquehanna will provide initial liquidity and help seed early trading activity.

The platform is scheduled to go live in 2026, offering futures, derivatives, and eventually prediction markets – a product category Robinhood says is experiencing explosive demand on its platform.

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Prediction Markets Have Become a Revenue Engine

Robinhood reported that over 1 million customers have already traded more than 9 billion contracts, making prediction markets its fastest-growing line of business by revenue. The company has increasingly woven these markets into its ecosystem through partnerships with Kalshi, offering events tied to politics, macro data, and sports.

Sports markets, including NFL and NCAA predictions, became available earlier this year as Robinhood leaned deeper into event-based trading.

A Rapidly Maturing Market Segment

Market research firm Bernstein recently noted that prediction markets are evolving into “information exchanges,” drawing significant inflows as users gravitate toward markets that price in real-world outcomes. That momentum is visible in trading volumes: U.S.-regulated Kalshi has topped Polymarket in monthly activity since September, recording $4.4 billion in October compared with Polymarket’s $3.02 billion.

Robinhood is betting that owning exchange and clearing infrastructure – rather than relying solely on partners – will give it a central role in a sector that’s quickly moving into the mainstream.