Charles Schwab Explores S&P 500 Prediction Markets With Cboe

Charles Schwab is reportedly partnering with Cboe Global Markets to explore S&P 500-linked event contracts. According to a Wall Street Journal report, the brokerage aims to offer binary-style options contracts, allowing customers to wager on specific index movements. This strategic move positions Charles Schwab within the territory of prediction markets, similar to Kalshi and Polymarket, as these financial products transition toward mainstream finance. The initiative allows the firm to enter this market on its own specific terms.