Charles Schwab to offer Cboe S&P 500 prediction market contracts
Charles Schwab is expanding into prediction markets by offering Cboe's new Mini S&P 500 binary contracts, according to recent announcements. The move marks a major traditional brokerage entering the event-contracts space, leveraging Cboe's regulated options exchange infrastructure. The launch was reported in the past week. Schwab's accounts would give it retail scale against existing prediction-market platforms. The coverage also quotes Vlad Tenev, CEO of Robinhood, on prediction markets.
Schwab's accounts give Kalshi and Polymarket their first rival with existing retail scale and brokerage trust. Cboe's regulated options plumbing lets Schwab enter without new CFTC registration.
Schwab's access builds on Cboe's new S&P 500 prediction market suite launched this week on Interactive Brokers, making it the latest major brokerage-linked prediction-market product and signaling Cboe's strategy to own the institutional infrastructure layer.