Cboe Global Markets (BATS: $CBOE) has launched a prediction market tied to the performance of the benchmark S&P 500 stock index.
Cboe is an American financial exchange operator and runs the largest exchange for trading options contracts.
The company has launched a new platform called “Cboe Predicts” that’s linked to the S&P 500 Index.
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Traders can take a yes-or-no position on where the S&P 500 index will finish trading on a given day.
The new products trade under the ticker symbols “XSPBW” and “XSPBX” and are available through Interactive Brokers (NASDAQ: $IBKR).
Financial and crypto trading platforms are rushing to offer investors popular prediction market betting, including Robinhood (NASDAQ: $HOOD) and Coinbase Global (NASDAQ: $COIN).
The market for prediction markets continues to be dominated by privately held Polymarket and Kalshi. Prediction markets enable people to bet on the outcome of real-world events.
Media reports surfaced on June 23 that technology giant Meta Platforms (NASDAQ: $META) is also planning to develop a prediction market called “Arena.”
CBOE stock has risen 12% over the past year to trade at $257.42 U.S. per share.