Robinhood to Launch Futures and Derivatives Exchange in Joint Venture With Susquehanna

What Is Robinhood Building With Susquehanna?

Robinhood is taking its prediction markets strategy into deeper institutional territory with plans to launch a new futures and derivatives platform in 2026. The platform will be developed through a joint venture with Susquehanna International Group (SIG), one of the largest trading firms and liquidity providers in global markets.

According to Tuesday’s announcement, the joint venture will acquire MIAXdx from Miami International Holdings, including its Derivatives Clearing Organization and Swap Execution Facility. MIAXdx already holds a designated contract market licence from the , giving the new platform a ready-made regulatory foundation.

Under the agreement, MIAX will retain a 10 percent equity stake in the venture. Susquehanna will act as a day-one liquidity provider, with more market makers expected to join ahead of the 2026 launch. The platform will offer futures, derivative products and an expanded slate of prediction markets—an area Robinhood says has rapidly become one of its strongest revenue drivers.

JB Mackenzie, vice president and general manager of futures and international at Robinhood, said the platform is being built in response to quick-growing demand. “Robinhood is viewing strong customer demand for prediction markets, and we’re excited to build on that momentum. Our investment in infrastructure will position us to deliver an even better experience and more innovative products for customers,” he said.

Investor Takeaway

Why Are Prediction Markets Becoming a Core Business for Robinhood?

Prediction markets have quietly turned into one of Robinhood’s quickest-growing business lines. The company reports more than one million customers have traded over nine billion contracts across politics, macro events and sports. The growth has been accelerated by Robinhood Derivatives’ partnerships with Kalshi, which allow users to trade elections, inflation releases, rate decisions and more.

In August, Robinhood expanded into sports-related prediction products linked to NFL and NCAA outcomes, again using Kalshi’s regulated markets. This diversification mirrors a broader trend: event-driven speculation is shifting away from informal betting platforms and toward regulated, price-discovery venues.

Analysts at Bernstein noted this month that prediction markets are evolving into “information platforms” rather than simple wagering tools. The firm pointed to accelerating volumes across Kalshi, Robinhood and other platforms as evidence of increasing credibility among traders, analysts and institutions viewking market-based signals.

Data from The Block shows Kalshi surpassing Polymarket in monthly volumes since September. In October, Kalshi traded 4.4 billion dollars, compared with Polymarket’s 3.02 billion dollars—an are gaining the upper hand over offshore competitors.

What Does the New platform Mean for Market Structure?

The joint venture gives Robinhood something its competitors do not yet have: end-to-end ownership of a , clearinghouse and execution venue under a CFTC-licensed framework. That opens the door to a wide range of institutional-grade products, including:

• Event-driven futures tied to elections, economic releases or sports outcomes
• Traditional futures and options across financial and macroeconomic benchmarks
• New derivatives formats designed specifically for retail-friendly prediction workflows
• Cleared products supported by MIAXdx’s existing regulatory approvals

The combination of Susquehanna’s liquidity and Robinhood’s consumer distribution power could reshape a segment of the market long dominated by niche platforms. While the CFTC continues to evaluate the boundaries between derivatives, gaming and informational markets, Robinhood’s move gives the firm optionality once the regulatory landscape settles.

Susquehanna’s involvement is a strategic advantage. The trading giant is known for deep expertise in options, provisioning. For Robinhood, securing such a partner improves order-book depth, reduces slippage and assists legitimize prediction markets as a serious asset class.

Investor Takeaway

What Comes Next Ahead of the 2026 Launch?

The new platform is expected to begin operations in 2026, pending integration work, additional regulatory steps and onboarding of liquidity partners. In the meantime, Robinhood will continue expanding its in-app prediction markets through Kalshi while preparing to migrate activity to its own infrastructure once the platform is live.

Key developments to watch over the next 24 months include:

• Product approvals for new event futures and derivatives
• Additional liquidity partnerships beyond Susquehanna
• Regulatory clarity around event-contract boundaries
• Integration of clearing and margin systems built on MIAXdx

If successful, Robinhood could become one of the most influential players in the global prediction markets ecosystem—bridging regulated derivatives with retail-friendly event trading.