Robinhood and Susquehanna reached a protocol to acquire 90% of LedgerX's shares to enter the prediction market.

Robinhood Markets and Susquehanna Group have reached an agreement to acquire 90% of the regulated exchange LedgerX from Miami International Holdings. The parties plan to operate LedgerX as an independent exchange through a new joint venture, with Robinhood serving as the majority shareholder. Miami International Holdings will retain a 10% strategic stake. The specific financial terms of the transaction have not been disclosed.

LedgerX was once a part of the defunct cryptocurrency exchange FTX. Miami International acquired LedgerX from FTX's bankruptcy estate for $50 million in 2023 and brought it under its wing.

The newly established joint venture will acquire MIAXdx, which is an entity under LedgerX, possessing qualifications for the designated contract market (DCM), the derivatives clearing organization (DCO), and the swap execution facility (SEF), which will provide Robinhood and Susquehanna with a ready-made regulatory platform.

Robinhood stated that this acquisition will pave the way for the establishment of a futures and derivatives exchange and clearinghouse focused on predictive markets. The exchange will serve Robinhood Derivatives and other futures commission merchants, and is expected to begin operations in 2026, providing a new institutional-level trading venue for traders looking to bet on real-world events through cryptocurrency contracts. (Cryptonews)