Cboe Launches Cboe Predicts Platform with Mini S&P 500 Binary Options Today

According to ChainCatcher, Cboe Global Markets launched Cboe Predicts, a new prediction market platform, today (June 24). The platform's first products are binary options contracts based on the mini S&P 500 index, with ticker codes XSPBW and XSPBX, representing one-tenth the size of standard S&P 500 index options (SPX).

The contracts are now live on Interactive Brokers and will expand to additional retail brokerages including Charles Schwab in the coming months. As securities options, these products will be centrally cleared through the Options Clearing Corporation (OCC) and subject to the same regulatory and surveillance framework as U.S. listed options.