Rothera powers Robinhood’s prediction market exchange, processing 3.5 billion contracts in Q2

Most companies that process billions of transactions want you to know their name. Rothera Exchange and Clearing LLC took the opposite approach, building one of the largest prediction market platforms in the US while deliberately staying invisible to the people actually using it. The CFTC-regulated exchange serves as the backend infrastructure powering Robinhood’s prediction market offerings. In Q2 2026 alone, Rothera processed over 3.5 billion contracts and generated $17 million in revenue. For a platform that launched live trading only weeks earlier, those are remarkable numbers. The quiet giant behind Robinhood’s prediction bets Rothera operates as a Designated Contract Market and Derivatives Clearing Organization under CFTC oversight. It deals in cash-settled event contracts, each worth $1, covering real-world outcomes like sports results and, eventually, elections and crypto prices. The exchange emerged from a joint venture predominantly controlled by Robinhood, with investment from Susquehanna International Group. In January 2026, the partnership acquired and rebranded MIAXdx, a Miami-based derivatives exchange, transforming it into Rothera. Live trading kicked off in late May...