Cboe launches Cboe Predicts with S&P 500 binary option contracts
Cboe Global Markets launched Cboe Predicts on June 24, 2026, a prediction markets suite offering binary option contracts with 'yes-or-no' payouts tied to the S&P 500 Index and Mini-S&P 500 Index (XSP). The exchange operator cited growing investor demand for binary options and pointed to Polymarket's success as context for the product's market opportunity. Shares of DraftKings and Robinhood fell following the announcement. The launch builds on Cboe's existing equity and index derivatives infrastructure and follows its recent revival of S&P 500 binary options in partnership with Charles Schwab. Cboe enters direct competition with prediction market platforms without requiring new CFTC registration, leveraging its existing regulated exchange status.
Cboe's existing options exchange status lets it bypass the CFTC registration delays that slowed Kalshi and Polymarket, giving the world's second-largest stock exchange a structural speed advantage in capturing retail prediction-market flow.