Robinhood has teamed up with the quantitative giant SIG (Susquehanna International Group) to prepare to establish a new futures and derivatives trading exchange, and they will also handle clearing themselves.

According to official statements, the joint venture Robinhood is the major shareholder and will also purchase MIAXdx (a CFTC-authorized futures exchange) along with the clearinghouse and swap execution facility held by MIAX. MIAX itself will retain a 10% equity stake. SIG will be responsible for supporting the market on the opening day, and in the future, more liquidity partners will be involved.

Why is Robinhood suddenly in such a hurry?

Because the prediction market is now their fastest-growing business line, with 1 million users participating and trading over 9 billion contracts.

This year, the response to the prediction market center built with Kalshi has been overwhelming. Robinhood has clearly been stimulated by this demand; users want to engage, so they need to expand and build underlying infrastructure.

In my opinion, Robinhood's partnership with SIG as the first-day liquidity provider has actually sent a signal to the industry:
They want to turn the prediction market into a truly deep contract market, rather than just a simple voting game.
This is significant for the entire industry, as previous prediction markets under U.S. regulation were quite small (both Kalshi and Polymarket had limited scales), and Robinhood's scale is expected to enlarge the market.

Acquiring MIAXdx + clearing organization + swap platform means that in the future, Robinhood can issue products, control liquidity, and handle clearing on its own, similar to CME / CBOE. No longer restricted by upstream exchanges.

This is a qualitative upgrade, which is very crucial in the long run.

If their new exchange opens smoothly in 2026, Robinhood's business landscape will be much larger than it is now, and it may even change the landscape of the prediction and futures markets in the United States.

#Robinhood #SIG #Prediction Market