Charles Schwab is working with Cboe to launch S&P 500 ‘yes-or-no’ binary options contracts: WSJ
The Block·
60-second summary
Charles Schwab is collaborating with Cboe to introduce S&P 500 'yes-or-no' binary options contracts, marking its entry into prediction-market-style products. The binary contracts are expected to offer clients a new way to bet on the direction of the S&P 500. This move may attract more mainstream investors to the prediction market sector, potentially challenging existing leaders like Kalshi and Polymarket.
The binary contracts would mark the brokerage's first move into prediction-market-style products, a sector that Kalshi and Polymarket already dominate.