Robinhood Stock Rises Following Deal That Could Boost Its Prediction Market Push
Robinhood is moving to launch its own prediction market platform by acquiring a 90% stake in derivatives exchange LedgerX (operating as MIAX), previously owned by FTX. The acquisition, made in partnership with Susquehanna International Group, comes as Robinhood sees increased customer demand for prediction markets. The deal, set to close in Q1 2026, gives Robinhood access to MIAX’s CFTC-regulated futures and options products, expanding Robinhood’s suite beyond existing “event contracts” offered with Kalshi. Analysts note Robinhood already drives over 50% of Kalshi’s market volume and expect the firm to supplement Kalshi’s offerings with its own contracts to capture a greater share of market revenue. HOOD shares rose over 8% to $125 on the news, nearing its all-time high, as Robinhood seeks to further grow its prediction market business, both in the U.S. and internationally. Miami International Holdings will retain a 10% stake in LedgerX after the transaction.
