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Rothera 소개
Rothera is a CFTC-regulated exchange and clearinghouse for event contracts, holding both designated contract market and derivatives clearing organisation registrations, and serving futures commission merchants, market makers and professional trading firms. Pricing of sports and macroeconomic events has been split between sportsbooks that set odds as counterparty and offshore prediction markets without clearing guarantees. Rothera turns outcomes into binary swaps with one-dollar notional, matched in a central limit order book at cent increments and cash-settled at expiry against publicly verifiable results, with trading and clearing closed inside one platform.
It does not serve retail directly: orders arrive through futures commission merchants and introducing brokers, which keep the client relationship and onboarding, while contracts settle on official league and media results and bar trading by players, coaches and other insiders. Trading began in May 2026, and more than USD 3 billion was wagered during the summer World Cup.
Rothera is a CFTC-regulated prediction-market exchange jointly built by Robinhood and Susquehanna, launched in late May 2026. In its first month it processed more than 3.5 billion contracts (about 93% from FIFA World Cup markets), quickly ranking among the world's top four prediction-market venues and handling about 16% of Robinhood's event-contract volume.
On July 20, 2026, Bernstein raised Robinhood's price target to $160, projecting Rothera-related prediction-market revenue rising from about $150 million in 2026 to $1.7 billion in 2028; Goldman Sachs estimated its pre-tax margin had reached about 45%. From August 2026, Rothera began adding political and economic contracts to reduce reliance on sports markets.
Future strategy and roadmap: Rothera plans to keep enriching event-contract categories (sports, politics, economics), improve liquidity and price discovery, and work with Robinhood Chain (an Arbitrum L2 launched July 1, 2026) to extend on-chain financial scenarios.
Thomas Chippas — Co-founder & CEO; founding CEO of ErisX and former CEO of Argo Blockchain, co-founded Rothera in Chicago in 2025.
Matt Trudeau — Co-founder & President; former CEO of Nori and COO of Cboe Digital.
Laurian Cristea — General Counsel; former partner leading the financial innovation practice at Barnes & Thornburg.
Rothera holds U.S. Commodity Futures Trading Commission (CFTC) registrations as a Designated Contract Market (DCM), a regulated exchange for event contracts, and as a Derivatives Clearing Organization (DCO), which clears and settles those trades, plus a dormant Swap Execution Facility (SEF).