Cboe Global Markets introduces binary options on the S&P 500, expanding prediction market access through $IBKR.
Cboe Global Markets has launched a prediction market for the S&P 500, allowing traders to bet on the index’s daily closing direction. The new products, trading as XSPBW and XSPBX, are accessible via Interactive Brokers.
The move follows growing demand for prediction markets, with platforms like Robinhood and Coinbase already offering similar products. Privately held Polymarket and Kalshi currently dominate the space, while Meta is reportedly developing its own platform.
Cboe’s stock has climbed 12% over the past year, trading at $257.42 per share.