Robinhood Stock Rallies on Prediction-Markets Push

The exchange, which is being launched with Susquehanna International, will acquire MIAXdx, a business that clears and executes derivatives trades.

Robinhood stock rose 11% Wednesday and was the best performer in the S&P 500. The shares have surged more than 200% this year.

Shares of Miami International, which owns MIAXdx, gained around 4%.

Prediction markets are Robinhood’s fastest-growing product line.

Traders use these markets—also run by specialist providers such as Polymarket—to bet on sports, elections and questions such as, “Who will be the next Federal Reserve chair?”