US EditionRobinhood, Susquehanna Strike Deal to Acquire LedgerX For Prediction ...
Robinhood and Susquehanna acquire 90% of LedgerX to gain core infrastructure for regulated event contracts, with over 9 billion contracts traded by 1 million customers in one year.
- On Wednesday, Robinhood and Susquehanna agreed to acquire LedgerX after Miami International Holdings sold a 90% stake in the regulated US derivatives exchange.
- Robinhood is deepening its prediction-markets push after relying on Kalshi, as prediction markets became HOOD's fastest growing product line with over 9bn contracts traded by more than 1m customers.
- Acquiring LedgerX gives control of a Designated Contract Market and Derivatives Clearing Organization , allowing clearing of futures, options on futures and swaps, which Cantor analyst Brett Knoblauch highlighted positively.
- Robinhood stock jumped 9% on Wednesday, shaking off November volatility and boosting its year-to-date rally to 235%.
- Owning LedgerX could let Robinhood scale event-contract offerings as analysts said even HOOD's small betting contracts already impacted business, positioning them to capitalize across Wall Street firms, sports betting companies and crypto platforms.
14 Articles
14 Articles
Robinhood is pushing deeper into the booming prediction markets, and its stock is surging
Mark Lennihan/APRobinhood is deepening its involvement in the booming world of prediction markets.It is partnering with Susquehanna International to expand its offering of event contracts.Robinhood stock surged on Wednesday, adding to this year's stellar gain of over 230%. The move: Robinhood stock jumped 9% on Wednesday, shaking off the volatility that has weighed on the stock in November. Wednesday's gain brings the stock's year-to-date rally …
Robinhood, Susquehanna take over exchange LedgerX in prediction markets push
(Reuters) -Robinhood Markets and Susquehanna International Group on Tuesday struck a deal to take over a regulated exchange run by Miami International Holdings, giving the companies a major boost in their push to establish a stronghold in prediction markets. The companies are acquiring a 90% stake in LedgerX, which was a part of now-defunct crypto exchange FTX. The platform began operating under the MIAX umbrella after parent company Miami Inter…
Robinhood Shares Surge 11% as Fintech Seeks Independence From Kalshi in Prediction Markets
Robinhood shares (NASDAQ: HOOD) climbed more than 10% yesterday (Wednesday) after the retail brokerage announced plans to launch its own futures and derivatives exchange. The move signals a deepening push into prediction markets, which has become the company's fastest-growing revenue source.Until now, the fintech had been expanding its offering through Kalshi, generating more than 50 percent of the platform’s trading volume. By launching its own…
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