Charles Schwab Launches S&P 500 Prediction Markets With Cboe, Rollout Expected in Coming Months

SPX500-0.06%
KALSHI-5.35%
According to the Wall Street Journal, Charles Schwab is rolling out prediction market contracts on S&P 500 performance in collaboration with Cboe Global Markets in the coming months. The markets will offer binary choice wagers on whether the S&P 500 will finish above or below a given price level, similar to prediction markets like Kalshi and Polymarket. Schwab will also introduce a "Plus Zone" feature that pays out based on how close the index closes to the market number. CEO Rick Wurster had signaled earlier this year that the firm would pursue prediction markets focused on financial benchmarks rather than sports or entertainment.
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