Robinhood to acquire a 90% stake in MIAX Derivatives Exchange from Miami International Holdings.

Robinhood, an American financial services company, agreed to acquire a 90% stake in MIAX Derivatives Exchange, a digital currency futures and options exchange and clearinghouse, from Miami International Holdings, an exchange holding company. Financial terms are not disclosed. "Through our retained equity stake, the transaction announced today will provide MIAX with access to the growing prediction markets on an expedited basis. The transaction with Robinhood closely aligns with our strategy of partnering with industry leaders to offer innovative trading products to the market, and we're excited about the opportunity to gain exposure to prediction markets through this initiative. The transaction represents a logical step forward for MIAX as we continue to focus on strategic growth opportunities within our core exchanges," Thomas P. Gallagher, MIAX Chairman and Chief Executive Officer.