In a bowl, whisk together milk, eggs, Splenda Sweetener, cinnamon, and vanilla extract. Gently stir in bread cubes and raisins. Let sit for 10–15 minutes so bread absorbs liquid.
Pour mixture into a 1 ½-quart ungreased baking dish.
Bake for 40 minutes or until a wooden pick inserted in center comes out clean. Let stand 10 minutes before serving warm.