Miami International Holdings (MIAX) has agreed to sell a 90% stake in its MIAX Derivatives Exchange (MIAXdx) to Robinhood Markets in partnership with Susquehanna International Group (SIG), while retaining a 10% ownership share.
The transaction is expected to close in the first quarter of 2026 pending customary regulatory approvals and filings with the Commodity Futures Trading Commission (CFTC).
MIAXdx operates as both a Designated Contract Market and a Derivatives Clearing Organization, authorized to list and clear fully collateralized futures, options on futures and swaps.
MIAX leadership said the decision aligns with its long-term strategy and will support its entry into the growing prediction-market sector.
Commenting on the development, MIAX Chairman and CEO, Thomas P. Gallagher, stated: "Through our retained equity stake, the transaction announced today will provide MIAX with access to the growing prediction markets on an expedited basis.
"The transaction with Robinhood closely aligns with our strategy of partnering with industry leaders to offer innovative trading products to the market, and we're excited about the opportunity to gain exposure to prediction markets through this initiative.
"The transaction represents a logical step forward for MIAX as we continue to focus on strategic growth opportunities within our core exchanges."
JB Mackenzie, VP and GM of Futures and International at Robinhood, added: "We're excited to continue working with MIAX as investors in this exchange.
"MIAX is a market leading exchange operator and we look forward to exploring future partnership opportunities to deliver products that meet the needs of Robinhood's customers."
The sale comes amid heightened industry attention on prediction markets, a sector positioned at the intersection of financial derivatives and sports event wagering. While MIAXdx's designation under the CFTC places it within federal regulatory oversight, prediction-style products remain a subject of debate across gaming, financial and legal circles.
Earlier this month, Global Gaming Insider examined the language-driven controversies surrounding prediction markets and sweepstakes casinos.
The analysis explored how semantics, legal classifications and consumer perceptions continue to influence the regulatory landscape - issues that will remain prominent as prediction markets expand into 2026.
The move comes amid ongoing debate and conflict about the regulatory classification and public perception of prediction markets
