Robinhood & Susquehanna Acquire LedgerX Stake: A Prediction Markets Play?

Wednesday Nov 26 2025 18:20

Duration

2 min

  1. 1. Robinhood and Susquehanna Eye Strategic LedgerX Acquisition

  2. 1.1 Acquisition Coincides with Robinhood's Futures Platform Launch

  3. 1.2 Executive Commentary on the Deal

  4. 1.3 Impact on Prediction Market Competition

  5. 1.4 Intensifying Competition in Prediction Markets

Robinhood and Susquehanna Eye Strategic LedgerX Acquisition

Robinhood Markets and Susquehanna International Group are reportedly in the process of acquiring a 90% stake in LedgerX, a company affiliated with the now-defunct cryptocurrency exchange FTX, according to a Reuters report. This move underscores a significant push into the burgeoning prediction markets space. LedgerX stands as one of the few solvent entities linked to FTX following its 2022 bankruptcy filing.

Acquisition Coincides with Robinhood's Futures Platform Launch

The reported acquisition follows closely on the heels of Robinhood's announcement of a new futures and derivatives platform, which includes options for prediction markets. Initially, Robinhood announced the acquisition of a majority stake in MIAXdx, an exchange and clearinghouse licensed by the US Commodity Futures Trading Commission (CFTC). MIAXdx, formerly known as LedgerX, was acquired by Miami International Holdings (MIAX) for $50 million in 2023 during the FTX bankruptcy proceedings. MIAX will retain a 10% stake in the firm, according to Reuters.

Executive Commentary on the Deal

"Through our retained equity stake, the transaction announced today will provide MIAX with access to the growing prediction markets on an expedited basis," stated Thomas Gallagher, CEO and chair of MIAX.

Impact on Prediction Market Competition

The acquisition positions Robinhood to potentially challenge established prediction platforms such as Kalshi and Polymarket. Prediction markets have experienced substantial growth in 2024, fueled in part by increasing interest in betting on US elections.

Intensifying Competition in Prediction Markets

Since a federal court cleared the path for Kalshi to offer event contracts tied to US elections in October 2024, the market has witnessed significant investment from companies both within and outside the cryptocurrency industry. Kalshi reportedly saw its valuation surge to $11 billion last week following a funding round led by Sequoia Capital and CapitalG. Polymarket also secured a regulatory victory on Tuesday, receiving CFTC approval to operate a US-intermediated trading platform. Cryptocurrency exchange Coinbase is also reportedly developing a prediction markets platform, backed by Kalshi. Shares of Robinhood on the Nasdaq jumped approximately 8% in the hours following the announcement, reaching $125.24 at the time of publication.

Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Default Author Avatar

Written by:

Sophia Claire

Asset List

View Full List
Most Traded Commodities Indices Crypto Shares Forex
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now
Asset
Sell
Buy
Change (%)

Trade Now

Trade Now

Trade Now

Trade Now

Latest

View all

Friday, 27 March 2026

Duration

4 min

Pentagon Prepares 'Decisive Strike' Military Scenarios Against Iran Amidst Diplomatic Stalemate

Friday, 27 March 2026

Duration

6 min

Trump Seeks Swift End to Iran Conflict: Balancing Pressure and Diplomacy

Thursday, 26 March 2026

Duration

5 min

Unusual Market Activity Precedes Trump's Iran Announcement, Raising Insider Trading Concerns

Latest news

Tuesday, 24 March 2026

Indices

NVIDIA GTC 2026 Keynote Highlights: Jensen Huang Predicts $1 Trillion AI Demand Through 2027

Tuesday, 24 March 2026

Indices

Top performing cryptos today: Siren (SIREN), Bittensor (TAO), Stellar (XLM)

Tuesday, 24 March 2026

Indices

Gold price today, March 25: Gold Surges Over $4,580 as XAUUSD Jumps 2.5% Amid Softer Dollar Pressure

Tuesday, 24 March 2026

Indices

Forex expo Dubai 2026: What is the investment event in Dubai 2026?

Monday, 23 March 2026

Indices

Commodity Market Today: Business Body Warns Middle East Conflict Could Derail SA’s 2026 Economic Recovery

Monday, 23 March 2026

Indices

Gold price today, March 24: Gold extends slide, XAU/USD price crashes below $4,200

Sunday, 22 March 2026

Indices

Gold price today, March 23: Gold drops, XAU/USD price plunges below $4,278

Sunday, 22 March 2026

Indices

BTC news today: Bitcoin keeps falling, what’s going on with bitcoin?

Thursday, 19 March 2026

Indices

ASX 200 Index today: ASX 200 (AXJO) shows resilience amid global uncertainty

Thursday, 19 March 2026

Indices

Gold price today, March 20: Gold price is crashing, XAU/USD saw below $4,700

See all news