The prediction market landscape in the US is increasingly attracting significant financial players, as Robinhood Markets and Susquehanna International Group finalize an agreement to acquire LedgerX from Miami International Holdings to establish a futures and derivatives exchange and clearinghouse.

Post-acquisition, Robinhood announced that the new platform will function via a joint venture with Susquehanna. Miami International Holdings will keep a 10% equity stake in LedgerX.

“There is a notable demand from our customers for prediction markets, and we are thrilled to capitalize on this interest,” expressed JB Mackenzie, Vice President and General Manager of Futures and International at Robinhood.

Regulated Infrastructure Emerges from FTX Revamp

Reuters conveyed that according to the deal, Robinhood and Susquehanna will jointly take ownership of a 90% stake in LedgerX, which was previously part of the defunct FTX group. In 2023, Miami International Holdings acquired LedgerX for $50 million from the FTX bankruptcy estate, integrating the regulated entity into its MIAX network.

“With our retained stake, this transaction will enable MIAX to swiftly tap into the expanding prediction markets,” noted Thomas Gallagher, Chairman and CEO of MIAX.

The anticipated closing is set for Q1 2026, with plans to begin operation within the same year.

Surge in Interest for Event-Driven Trading

Contracts based on events have seen increasing traction in the US following a federal court ruling last year which overturned the Commodity Futures Trading Commission’s ban on election betting.

InPlay Global has recently teamed up with MEMX to develop a platform linked to sports team performance. The Intercontinental Exchange pledged up to $2 billion to Polymarket, a prediction market leader, in October.

Kalshi is reported by TechCrunch to have secured an $11 billion valuation in its recent funding round, while CME Group and CBOE have also revealed plans to venture into the prediction markets.