Robinhood said it will establish a futures and derivatives exchange and clearinghouse, with Susquehanna International Group as its initial liquidity provider. Robinhood plans to accelerate the launch by acquiring MIAXdx from Miami International Holdings, which will retain a 10% equity stake in the exchange.
The planned exchange and acquisition could add a new competitor in US prediction markets.
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Major League Baseball named Polymarket its exclusive prediction market exchange partner and signed a memorandum of understanding with the Commodity Futures Trading Commission, according to the announcement. The agreement provides for information-sharing and cooperation on integrity issues, while Polymarket will receive exclusive access to MLB marks and logos for its products. MLB said it intends to establish integrity relationships with other prediction market exchanges offering baseball contracts.
Sporttrade announced that it received Designated Contract Market and Derivatives Clearing Organization registrations from the CFTC on Tuesday. The company plans to introduce exchange and clearing services in phases, initially serving selected flow and liquidity providers; Fliff plans to route trades through the exchange if it receives regulatory approval.
It was reported that Novig launched its sports prediction-market exchange in 47 states on 4 August. The business had obtained CFTC designated contract market registration in June.
Limitless Markets US, LLC, has filed with the Commodity Futures Trading Commission to become a federally regulated derivatives exchange in the United States, according to the report. The platform offers contracts on whether bitcoin’s price will rise or fall over five-minute periods. The filing seeks regulatory approval; the source does not state that the CFTC has decided on it.
US Senator Richard Blumenthal introduced the Prediction Markets Security and Integrity Act, according to the available report. The text provides no further details about the bill’s provisions or its legislative status.