Cboe Predicts, a prediction market platform, launched by the Chicago Board Options Exchange

Cboe Global Markets announced the launch of a new prediction market platform "Cboe Predicts," along with the rollout of its first prediction products. These products include binary options contracts based on the mini S&P 500 index (XSP) with codes XSPBW and XSPBX. The contract size is one-tenth of the standard S&P 500 index options (SPX).

Currently, the contracts are available on Interactive Brokers and are planned to be rolled out to more retail brokerage platforms such as Charles Schwab in the coming months. Additionally, as securities options, these products will be centrally cleared by the Options Clearing Corporation (OCC) and will follow the same regulatory and monitoring framework as U.S. listed options.