Nasdaq follows Cboe joining world of 'binary bets' as prediction market craze hits Wall Street

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Nasdaq follows Cboe joining world of 'binary bets' as prediction market craze hits Wall Street The exchange has filed a proposal with the SEC to list yes-or-no bets on the Nasdaq-100 amid continued demand for prediction markets. By Helene Braun | Edited by Aoyon Ashraf , Sheldon Reback Mar 2, 2026, 4:28 p.m. Make us preferred on Google What to know : Nasdaq asked the SEC to approve listing binary options tied to the Nasdaq-100 and its micro index, allowing traders to make yes-or-no bets on index moves. The proposed contracts, priced between 1 cent and $1, would pay a fixed amount if a specified condition is met and expire worthless if it is not, mirroring prediction-market mechanics. The move highlights how traditional exchanges and crypto platforms alike are adapting prediction-style trading formats within U.S. securities and derivatives regulations amid growing interest in event-based markets. The Nasdaq stock exchange wants to list binary options tied to its flagship stock indexes, a move that would let traders place yes-or-no bets on the direction of major equity benchmarks like the Nasdaq-100. In a Monday filing with the U.S. Securities and Exchange Commission (SEC), the exchange said it also plans to offer binary options on the Nasdaq-100 Micro Index. A binary option is a bet with only two outcomes. Either the condition is met, and the bettor walks away with a profit, or the option expires worthless. Nasdaq's proposed contracts would be priced between 1 cent and $1, reflecting the market’s view of the probability that a specific outcome will occur. If approved, the products would function similarly to contracts on prediction market platforms such as Polymarket and Kalshi, giving traders a new way to express short-term views on the performance of one of the market’s most closely watched stock indexes. The filing marks Nasdaq’s entry into a fast-growing corner of derivatives markets that blends traditional finance with the mechanics of prediction platforms. Rival exchange Cboe also announced plans to expand into the prediction markets business as interest in event-based trading has surged. That push follows the rapid growth of platforms such as Polymarket and Kalshi, which allow users to trade on the outcomes of events ranging from elections to economic data releases. Those platforms are regulated by the Commodity Futures Trading Commission (CFTC) because they offer event contracts tied to real-world outcomes. Binary options, however, fall under the SEC’s jurisdiction. Nasdaq’s proposal underscores how established exchanges are seeking to adapt the prediction-style format to regulated securities markets. Nasdaq had not responded to a request for comment by publication time. Crypto exchanges have also moved quickly. Coinbase recently rolled out prediction markets on its platform, giving digital asset traders access to contracts linked to political, economic and cultural events. Gemini received CFTC approval in December to operate as a Designated Contract Market (DCM), allowing the firm to offer regulated prediction markets to U.S. customers. Prediction Markets Nasdaq Binary Options More For You Bitcoin surges above $68,000 amid muted stock market reaction to Iran war By Stephen Alpher , James Van Straten | Edited by Stephen Alpher 57 minutes ago At their worst levels, U.S. stock index futures had been down more than 2%, but equity markets are barely lower one hour into Monday's trading session. What to know : Bitcoin climbed to $68,600 in early U.S. trading on Monday. The gains came as U.S. stocks slumped far less than feared following the U.S. strikes against Iran over the weekend. Economic data released Monday showed the U.S. economy accelerating strongly in February. Read full story Latest Crypto News Bitcoin surges above $68,000 amid muted stock market reaction to Iran war 57 minutes ago Tom Lee's Bitmine boosts ether holdings to 4.47 million tokens with $98 million ETH purchase 1 hour ago EU banks’ euro-pegged stablecoin in talks with crypto exchanges to ensure liquidity 1 hour ago CoinDesk 20 performance update: NEAR Protocol (NEAR) jumps 12.4% over weekend 2 hours ago Iranian crypto outflows jump 700% minutes after U.S.-Israeli airstrikes, Elliptic says 2 hours ago Turkey's ruling party unveils 10% crypto income tax proposal 2 hours ago Top Stories Strategy purchased more than $200 million in bitcoin last week 3 hours ago Battered bitcoin could find solace in war-led 'debasement' trade 4 hours ago SpaceX’s $780 million bitcoin stack now down to about $545 million ahead of IPO filing Mar 1, 2026 Polymarket attracts record trading 'world' volumes as U.S.-Iran bets top $529 million Mar 1, 2026 U.S. equity futures fall in pre-market trading as oil, gold retreat from highs 5 hours ago Iran crisis puts the regime's $7.8 billion crypto shadow economy in spotlight Feb 28, 2026