Cboe is reintroducing binary options on the S&P 500 index, competing with platforms like Polymarket and Kalshi. This marks Cboe's return to the prediction market after a decade-long hiatus.
Cboe, one of the largest U.S. derivatives exchanges, is reviving binary options on the S&P 500 index, which it had previously abandoned over ten years ago. The binary options will allow investors to place yes/no bets on whether the index crosses a specific level. This move follows Cboe's success with same-day S&P 500 options, which now account for about 30% of U.S. options volume. Milan Galik, CEO of Interactive Brokers, noted the growing demand for products that enable investors to express specific views on future events and market outcomes.