Cboe Launches Prediction Market Product Cboe Predicts, the first binary contract trading around the rise and fall of the S&P 500 Index

BlockBeats News, June 24th. According to official sources, Cboe Global Markets, Inc. announced today the launch of the initial products in its new prediction market product suite — Cboe Predicts.

This product line includes binary options contracts based on the Mini S&P 500 Index (XSP), with trading codes XSPBW and XSPBX. These contracts are currently available for trading on Interactive Brokers and are expected to be launched on Charles Schwab in the coming months, with subsequent availability on more retail brokerage platforms.

Cboe Predicts is the latest extension of Cboe's S&P 500 Index (SPX) product series. XSP allows customers to trade on the performance of the S&P 500 Index, but with contract sizes one-tenth that of SPX, making it more accessible to retail clients. Traders can express their views on the closing price of XSP by selecting either a "call" position (receiving $100 if the index settlement price reaches or exceeds the specified level, $0 otherwise) or a "put" position (receiving $100 if the settlement price is below that level, $0 otherwise).