Robinhood is taking its prediction markets to the next level with a new joint venture alongside Susquehanna International Group to launch a futures and derivatives exchange, complete with a clearinghouse. The exchange is expected to begin operations in 2026.

The venture, controlled by Robinhood Markets Inc., will acquire MIAXdx, a Commodity Futures Trading Commission (CFTC)-licensed derivatives clearing organization and swap execution facility, from Miami International Holdings. MIAX will retain a 10% equity stake, while Susquehanna will serve as the day-one liquidity provider, with additional partners to follow.

JB Mackenzie, VP and general manager of futures and international at Robinhood, said:

“Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum. Our investment in infrastructure will position us to deliver an even better experience and more innovative products for customers.”

Rapid Growth in Prediction Markets

Prediction markets have quickly become Robinhood’s fastest-growing product line by revenue, with over 9 billion contracts traded by more than 1 million users.

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

Mainstream Acceptance on the Rise

Analysts at Bernstein note that prediction markets are evolving beyond event betting into broader information-trading platforms, with surging volumes across Robinhood and Kalshi indicating growing mainstream adoption.

Kalshi, a U.S.-regulated platform, has outpaced competitors like Polymarket, recording $4.4 billion in volume in October, compared with Polymarket’s $3.02 billion.

With this joint venture, Robinhood is set to deepen its infrastructure in futures, derivatives, and prediction markets, signaling a major push toward innovative, regulated financial products for retail and institutional investors alike.