JPMorgan Wealth and Schwab plan Cboe S&P 500 event contracts
Cboe is expanding its event-contract infrastructure with two major retail brokerage partners. JPMorgan Wealth Management plans to launch S&P 500 event contracts — all-or-nothing binary options on the broad equity index — giving its wealth clients direct exposure to binary outcomes. Simultaneously, Charles Schwab is partnering with Cboe to push S&P 500 event-based options to its tens of millions of retail brokerage clients in the coming months. Both products would run on Cboe's rails and represent moves by established Wall Street wealth and brokerage giants into the event-contract format that prediction-market platforms have pioneered.
JPMorgan and Schwab's combined retail footprint reaches tens of millions of existing brokerage accounts. Any conversion of even a fraction of that base gives Cboe instant volume scale and turns Kalshi and Polymarket's distribution advantage into a deficit against mainstream brands with built-in client trust.