Robinhood, Susquehanna Escalate Prediction-Market Arms Race

Robinhood Markets Inc. and Susquehanna International Group are taking over a regulated exchange that was tied to the now-defunct crypto business FTX, giving them a powerful new foothold in the fast-growing world of prediction markets.

The two firms are buying a majority stake in LedgerX, a US-based derivatives exchange once owned by FTX and now run by Miami International Holdings Inc.