NEW YORK, Jan 22, 2026, 19:29 EST — Trading after hours
- Robinhood shares edged up 0.4% to $106.25 in after-hours trading.
- MIAX announced it has sold 90% of MIAXdx to a joint venture between Robinhood and Susquehanna, retaining a 10% share.
- Attention now turns to regulation of event contracts and Robinhood’s results set for Feb. 10.
Shares of Robinhood Markets Inc ticked up 0.4% to $106.25 in Thursday’s after-hours session. 1
The slight uptick follows investors digesting Robinhood’s latest move deeper into prediction markets, a segment more aligned with derivatives infrastructure than its main retail brokerage platform.
Having full or partial ownership of the rails is crucial. It influences the speed at which new products roll out, their approval timelines, and the share of profits retained within the group instead of flowing out to venues and middlemen.
Miami International Holdings, the operator behind MIAX, announced it has sold 90% of MIAX Derivatives Exchange (MIAXdx) to a joint venture formed by Robinhood and Susquehanna International Group. MIAX retains a 10% stake. MIAXdx operates under the U.S. Commodity Futures Trading Commission, offering fully collateralized futures, options on futures, and swaps—meaning customers must post the full value upfront rather than using leverage. MIAX CEO Thomas Gallagher said holding onto a portion allows the company to “gain exposure to the growing prediction market.” Robinhood’s JB Mackenzie added the acquisition “accelerates our investment in the prediction markets.” 2
A filing from MIAX confirmed the transaction took effect on Jan. 20. 3
The broader market edged higher on Thursday, led by gains in large-cap and tech-focused funds. Bitcoin, meanwhile, hovered mostly flat to a bit lower — a key dynamic for Robinhood since crypto trading often drives retail investor sentiment on its platform.
Robinhood isn’t the only player chasing fresh fee streams. Crypto-focused platforms like Coinbase, along with traditional brokers offering derivatives, have been ramping up their futures and options products, despite fluctuations in retail cash equity trading.
Prediction markets remain tangled in regulatory red tape. This week, a Massachusetts judge ruled that Kalshi cannot allow state residents to place sports bets on its platform without securing a license. The decision highlights the clash between state gaming laws and federally regulated event contracts. 4
Robinhood faces a ticking clock: when will the MIAXdx platform actually appear in the app as a tangible update? And how will the legal boundaries for sports-style contracts shift—will they expand or contract state by state?
Robinhood plans to release its fourth-quarter and full-year 2025 earnings on Feb. 10, after markets close. 5
