Cboe Global Markets has introduced the first product in Cboe Predicts, its new suite of prediction markets, which lists binary options on the Mini-S&P 500 Index (XSP) through Interactive Brokers.
Charles Schwab will add access in the coming months, and other brokers will follow.
Cboe targets prediction markets with Mini-S&P 500 contracts
According to the press release, the contracts are listed under the symbols XSPBW and XSPBX.
“Cboe Predicts represents the latest expansion of Cboe’s S&P 500 Index (SPX) product suite. He said.
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Contracts allow traders to take a simple yes or no position on where the indicator will close. The Yes position pays $100 if the index settles at or above the chosen level. The “no” position pays the same amount if it settles below.
Cboe routes products through Top retail brokers and clears them out Centrally through the Options Clearing Corporation (OCC).
JJ Kinahan, head of retail expansion at Cboe, tied Move to the next order Zero day to expiration (0DTE) options. Rob Hocking, global head of derivatives at Cboe, framed the launch as an attempt to raise standards across the sector.
He added: “We look forward to bringing our expertise, reliable market infrastructure, and deep liquidity of the SPX options ecosystem to the prediction markets. Our goal is to help set a higher standard for market integrity, product design and investor protection…” he added.
The company said its future plans include adding vertical spreads for XSP through Cboe’s patent-pending quoted spread book. Cboe is the latest established company to enter the territory pioneered by Polymarket and Kalshi. Even dead It is said that he wants to live with A Standalone application.
Launched as predictive markets Attract record attention. Open interest across the sector recently reached an all-time high of $1.48 billion.
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