Robinhood, Susquehanna Take Over LedgerX to Expand Prediction Markets

Key Notes

The partnership acquires MIAXdx, formerly LedgerX, providing CFTC-regulated derivatives trading infrastructure.

Prediction markets drove 9 billion contracts across 1 million users, becoming Robinhood's fastest-growing product line.

HOOD shares surged 12% on the news, contributing to a 243% year-to-date rally and bullish analyst price targets.

Robinhood Markets, Inc. (Nasdaq: HOOD) has announced a major expansion into prediction markets through a joint venture with Susquehanna International Group. The new partnership will take control of LedgerX, a regulated crypto derivatives exchange previously owned by Miami International Holdings.

The acquisition positions Robinhood to launch a futures and derivatives exchange and clearinghouse, deepening its presence in the trendy predi