Cboe Revives Binary Options to Compete with Kalshi, Polymarket
Bloomberg 2026-06-23 19:06:46
Context: Cboe Global Markets, Inc. has reintroduced a type of S&P 500 contract, known as binary options, after a hiatus of over a decade. This move is seen as an effort to compete with prediction market platforms Kalshi and Polymarket, which have gained popularity in the meantime. The reintroduction of binary options by Cboe is a significant development in the financial markets.
Key Facts
- Cboe Global Markets, Inc. announced on Tuesday, June 23, 2026, the revival of a type of S&P 500 contract that had been discontinued for over a decade.
- The reintroduced contract is a type of binary option, which has become a popular offering on prediction market platforms Kalshi and Polymarket during its absence.
- The decision to revive binary options is a strategic move by Cboe to compete directly with Kalshi and Polymarket, which have established themselves as key players in the prediction market space.
- The reintroduction of binary options by Cboe is expected to have implications for the financial markets, potentially altering the landscape of prediction markets and the types of contracts available to traders.
- Binary options, as offered by Cboe, involve a type of financial contract that pays out a fixed amount if a specific condition is met, typically related to the performance of the S&P 500 index.