Robinhood To Launch Own Prediction Market
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Robinhood Markets (HOOD) and Susquehanna International Group acquired a 90% stake in a regulated exchange LedgerX run by Miami International (MIAX), aiming to expand their presence in the growing prediction markets sector.
Shares of Robinhood Markets (NASDAQ: HOOD) are jumping on Monday, up 10.7% as of 2:36 p.m. ET. The rise comes as the S&P 500 and the Nasdaq Composite gained 0.9% and 0.9%, respectively.
Investing.com -- Miami International Holdings Inc. (NYSE:MIAX) stock rose 4.1% in after-hours trading Tuesday after the exchange operator announced a deal to sell 90% of its MIAX Derivatives Exchange subsidiary to Robinhood Markets Inc. (NASDAQ:HOOD) and Susquehanna International Group.