Robinhood is introducing a futures and derivatives exchange and clearinghouse, deepening our investment in Prediction Markets and better positioning us to deliver innovative products to our customers. 

“Robinhood is seeing strong customer demand for prediction markets, and we’re excited to build on that momentum,” said JB Mackenzie, VP and General Manager of Futures and International at Robinhood. “Our investment in infrastructure will position us to deliver an even better experience and more innovative products for customers.”

The independent exchange will be managed by a joint venture with Robinhood Markets, Inc. serving as the controlling partner and providing strong retail demand and distribution. Market making leader Susquehanna International Group has been brought on as a key partner and day-one liquidity provider, with other liquidity providers to be added to ensure the best possible execution for customers. The venture will accelerate delivery of its services by acquiring MIAXdx, a CFTC-licensed Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF), and wholly-owned subsidiary of Miami International Holdings, Inc. (MIAX) (NYSE: MIAX). MIAX will remain invested through a strategic 10% equity stake in the exchange. 

Prediction Markets have quickly become Robinhood’s fastest-growing product line by revenue. Just one year since launch, 9 billion contracts have been traded by more than 1 million Robinhood customers. By introducing a robust, institutional-grade exchange to the market, we’ll add more choices for consumers. We’ll also gain the flexibility to build faster and deliver more contracts and services to traders.

The exchange will serve Robinhood Derivatives and other FCMs, and is expected to begin operations in 2026.