Robinhood and Susquehanna International Group are acquiring a majority stake in MIAXdx, formerly known as LedgerX, to expand their presence in the prediction market. The acquisition involves a 90% stake in the U.S.-based derivatives exchange, previously linked to the bankrupt crypto firm FTX and now operated by Miami International Holdings (MIH). Financial terms of the deal were not disclosed.
Robinhood will become the controlling partner in this new joint venture, while Susquehanna will serve as the first-day liquidity provider, ensuring trade counterparties for clients. This strategic move allows both companies to gain direct control over the infrastructure necessary for listing and clearing event contracts, enhancing their involvement in the prediction market space.
Robinhood and Susquehanna Acquire Majority Stake in MIAXdx
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