NEW YORK, Jan 23, 2026, 11:28 EST — Regular session
- Shares of Robinhood climbed roughly 2% in late morning trading.
- A MIAX unit has sold a majority stake in a CFTC-regulated derivatives venue to a joint venture between Robinhood and Susquehanna.
- Investors are eyeing the Feb. 10 results for specifics on costs, rollout, and trading activity.
Shares of Robinhood Markets climbed on Friday, beating a mixed group of trading and crypto-related stocks, following the closing of a derivatives-exchange deal linked to the company’s push into prediction markets. The stock was trading up 2.2% at $108.63 late morning.
This matters because Robinhood aims to expand beyond just stock and options trading, pushing into event-based contracts and more complex offerings designed to keep users engaged when markets quiet down. The strategy is simple: more products mean more trades, which means more fees.
It also draws Robinhood deeper into the market’s core infrastructure — exchanges and clearinghouses — where regulators enforce rules and outages can quickly become expensive. Investors often see this as both a chance and a fresh source of risk.
Miami International Holdings announced Wednesday 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. The company noted MIAXdx is approved by the U.S. Commodity Futures Trading Commission to list and clear fully collateralized futures, options on futures, and swaps.
“Acquiring MIAXdx speeds up our push into prediction markets,” said JB Mackenzie, Robinhood’s VP and GM of futures and international, in the statement announcing the deal’s close. PR Newswire
Peers diverged sharply. Coinbase dropped roughly 1.9%, Charles Schwab edged down about 1.9%, while Interactive Brokers barely budged. Bitcoin climbed around 0.6%, hovering near $89,500.
Prediction markets allow users to trade contracts linked to specific outcomes — essentially a “yes/no” bet on whether an event will occur by a set date. The appeal lies in their speed and simplicity, but regulatory challenges remain a major hurdle.
Traders following Robinhood will keep a close eye on how the joint venture leverages MIAXdx’s licenses and infrastructure, and how fast those offerings hit the app in a way retail users recognize. Volume is important, but so is the detail on fees and the expense of managing risk controls.
Robinhood will release its fourth-quarter and full-year results on Feb. 10 after the market closes. The company also plans to hold a video call with CEO Vlad Tenev and incoming CFO Shiv Verma later that same day, it announced.
Yet diving into derivatives and clearing carries risks. One compliance slip, a tech glitch, or a drop in customer risk appetite can swiftly curb volumes. These products also have the potential to magnify losses if controls aren’t airtight.
Friday’s action shifts focus beyond the headline to execution details: how much investment is needed to grow the business, and if that spending translates into customer engagement without driving costs up too steeply.
Robinhood’s next major event comes on Feb. 10, when it releases earnings. Investors are looking for more clarity on the rollout schedule and how MIAXdx will impact the revenue mix for 2026.
