Cboe Global Launches New Prediction Market Products with Mini S&P 500 Binary Options

Highlights: 

• Cboe Global Markets has rolled out new prediction market products called “Cboe PredictsSM.”
• The company noted that the new products are listed under the tickers XSPBW and XSPBX.
• Customers can now access the products through the company’s Interactive Brokers. 

Leading derivatives and exchange network, Cboe Global Markets, has introduced a new set of prediction market products that allow traders to make simple yes-or-no decisions on the future performance of the S&P 500 Index. Cboe announced the new product’s release in a press release on Tuesday. According to the announcement, the new offering called “Cboe PredictsSM” begins with binary option contracts linked to the Mini-S&P 500 Index (XSP).

The products are listed under the symbols XSPBW and XSPBX. Cboe added that these products are now available to customers through Interactive Brokers. The company also noted that it expects the contracts to become available on Charles Schwab in the coming months. In addition, more retail trading platforms are expected to add access later.

Global markets operator Cboe has launched its first predictions markets product, the latest financial-markets company working to capitalize on consumer demand in the fast-growing sector.

The offering includes binary option contracts based on the Mini-S&P 500 Index, the company… pic.twitter.com/gG3WgnJiOg

— CNBC (@CNBC) June 24, 2026

Cboe’s New Contracts Design

Unlike traditional options trading, these contracts are designed around a clear outcome. Traders can choose whether they believe the XSP index will finish above or below a set level. Every successful “yes” position receives a $100 payout if the index closes above the selected level. A successful “no” position pays $100 if the index finishes below the level. On the other hand, if the prediction is incorrect, the contract pays nothing.

Cboe stated that the launch comes amid rising interest in shorter-term trading products, especially following strong demand for SPX ODTE options. The company also believes that its new binary options provide another method for traders to take a position on market movements with a fixed possible outcome. 

Reacting to the company’s latest move, JJ Kinahan, Cboe’s Head of Retail Expansion and Alternative Investment Products, stated that customers have shown growing interest in products that deliver clear results. He added that Cboe Predicts offers traders access to simple event-based contracts to help them understand how the products work.

Cboe Global Launches New Prediction Market Products and Hints at Future Release

Cboe also plans to introduce XSP vertical spreads through its Quoted Spread BookSM (QSBSM) system. The system presents common option strategies in a simple format. It helps traders move from basic yes-or-no contracts toward more advanced options strategies with controlled risk. 

The company also stated that the products will operate through regulated securities markets rather than unregulated prediction platforms. The contracts will be centrally cleared by the Options Clearing Corporation (OCC), which provides settlement support and manages risk effectively.

Cboe Launches Prediction Market Platform With First Prediction Products

Cboe Global Markets has launched its new prediction market platform, Cboe Predicts, along with its first prediction products. The initial offerings are binary options contracts tied to the Mini S&P 500 Index… pic.twitter.com/nFT7SPmod7

— Wu Blockchain (@WuBlockchain) June 24, 2026

Mike Hansen, Chief Clearing and Settlement Services Officer at OCC, stated that the organization will apply the same standards used across its existing clearing services to support the new binary options products. “Our commitment to operational excellence and financial integrity ensures that participants can engage with confidence, knowing every transaction is supported by sound, well-established clearing and settlement services,” he added.   

Charles Schwab also confirmed plans to provide access to the contracts in the coming months. James Kostulias, Head of Trading Services at Schwab, said the company supports products that focus on transparency. “We plan to offer clients access to these binary options contracts in the coming months, building on our existing platform and demand from active traders,” Kostulias stated.