Robinhood is making one of its most aggressive moves yet into derivatives and prediction markets, and its latest acquisition signals that the retail trading giant wants a seat at the very top of the sector.
Key Takeaways
- Robinhood and Susquehanna are taking majority control of LedgerX, giving Robinhood a regulated gateway into prediction markets.
- The deal places Robinhood in direct competition with Kalshi, Polymarket and Coinbase as event-based trading rapidly expands.
- Markets reacted positively, sending Robinhood shares sharply higher after the acquisition was reported.
Rather than building the infrastructure from scratch, the company — alongside Susquehanna International Group — has secured controlling ownership of LedgerX, a derivatives clearinghouse that once sat inside the FTX corporate structure but remained solvent after the exchange’s collapse.
A Strategic Shortcut Into Regulated Derivatives
The acquisition gives Robinhood a rare asset: a federally licensed venue approved to handle futures and event-based contracts. For a company expanding beyond stock trading and crypto, that instantly removes years of regulatory hurdles.
The timing of the deal is no coincidence. Earlier the same day, Robinhood introduced a new futures and derivatives division centered on prediction markets — the increasingly popular financial segment where users trade on the outcome of real-world events.
LedgerX, currently operating under the MIAXdx name following a 2023 sale to Miami International Holdings, now shifts control to Robinhood and Susquehanna. MIAX will stay on board with a minority 10% stake.
A Crowded Battlefield Is Taking Shape
The prediction-market space has undergone a dramatic transformation this year, fueled by regulatory breakthroughs and soaring demand for event-based trading — especially around election markets.
Kalshi, after winning a legal fight to list U.S. election contracts, has ballooned to an $11 billion valuation. Polymarket just earned approval from the Commodity Futures Trading Commission to operate an intermediated U.S. platform. Coinbase is also rumored to be working on a competing product.
With LedgerX in hand, Robinhood now enters the competition with a regulated clearinghouse, unmatched brand reach among retail traders, and a track record of scaling market-moving products quickly.
Investors appeared to back the move immediately. Robinhood’s stock surged on the Nasdaq following the announcement, gaining nearly 8% and reaching $125.24 in the hours after news broke.
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Source: https://coindoo.com/robinhood-joins-the-race-against-kalshi-and-polymarket-after-new-acquisition/