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06/21/2026

Charles Schwab and Cboe Plan S&P 500 Binary Options Launch

What happened: Charles Schwab is partnering with Cboe to introduce S&P 500 ‘yes-or-no’ binary options contracts, marking the brokerage’s first foray into prediction-market-style products.

Charles Schwab and Cboe Plan S&P 500 Binary Options Launch

What happened: Charles Schwab is partnering with Cboe to introduce S&P 500 ‘yes-or-no’ binary options contracts, marking the brokerage’s first foray into prediction-market-style products. This move positions Schwab against established players like Kalshi and Polymarket in the growing event contracts sector.

Why it matters: The entry of a major brokerage into binary options could legitimize and expand the market for event-driven financial products. It also signals mainstream financial institutions’ increasing willingness to experiment with formats popularized by crypto-native platforms.

Source: The Block