Robinhood Markets and Susquehanna International Group are acquiring a 90% stake in LedgerX, tied to defunct FTX, to expand into prediction markets. MIAXdx, formerly LedgerX, was acquired by MIAX for $50 million in 2023. MIAX will retain a 10% stake in the firm. Robinhood’s stock surged 8% post-announcement, reaching $125.24.

Kalshi, a prediction market, received a federal court’s approval to offer event contracts tied to US elections in 2024. It increased its valuation to $11 billion after a funding round. Polymarket, another prediction platform, gained CFTC approval for a US-intermediated trading platform. Coinbase is reportedly developing a prediction markets platform backed by Kalshi.

Read more at Cointelegraph: Robinhood Eyes Prediction Markets with FTX-Linked Acquisition: Report