- Robinhood Markets and Susquehanna International Group are acquiring a 90% stake in LedgerX, a company linked to the bankrupt cryptocurrency exchange FTX.
- LedgerX was renamed MIAXdx after being purchased by Miami International Holdings for $50 million.
- The acquisition supports Robinhood’s new push into prediction markets and futures trading platforms.
- Key competitors in prediction markets include Kalshi and Polymarket, both of which have recently seen regulatory and valuation milestones.
- Robinhood’s
Robinhood Markets and Susquehanna International Group are set to acquire a majority stake in LedgerX, marking an expansion into prediction markets. The deal involves purchasing 90% of the company, which is one of the few solvent entities connected to the collapsed FTX cryptocurrency exchange. This development comes shortly after Robinhood introduced a futures and derivatives platform incorporating prediction market options, as reported on November 26, 2025.
Previously, LedgerX was acquired by Miami International Holdings (MIAX) for $50 million amid FTX’s bankruptcy troubles. The company was rebranded as MIAXdx and is regulated by the U.S. Commodity Futures Trading Commission (CFTC). MIAX will maintain a 10% stake in MIAXdx. According to MIAX CEO Thomas Gallagher, the retained equity stake will expedite MIAX’s access to the growing prediction markets, as detailed in a press release.
Prediction markets allow participants to place bets on the outcome of future events, such as elections or economic developments. This sector has seen significant growth in 2024, particularly on election-related contracts. Other key players in the space include Kalshi and Polymarket. Recently, Kalshi obtained clearance to offer event contracts linked to U.S. elections and saw its valuation reach $11 billion after funding led by Sequoia Capital and CapitalG. Meanwhile, Polymarket received CFTC approval to operate a U.S.-intermediated trading platform.
Additionally, cryptocurrency exchange Coinbase is reportedly developing a prediction market platform with support from Kalshi. Following the announcement of the acquisition, Robinhood’s</b stock price rose about 8%, reaching $125.24 on the Nasdaq.
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