Cboe launched its first prediction market product tied to the S&P 500 index, citing a growing investor demand for binary options contracts.
Market operator Cboe Global Markets has entered the prediction markets business with the launch of Cboe Predicts, a platform debuting with binary contracts tied to the S&P 500.
The contracts are now available through Interactive Brokers and are expected to launch at Charles Schwab and other retail brokerage platforms in the coming months, according to a Tuesday press release.
The contracts allow traders to take “yes” or “no” positions on whether the S&P 500 will close above or below a specified price level.
