Nasdaq enters the prediction market, plans to launch 100 Index binary options
PANews reported on March 2 that Nasdaq plans to launch an options contract allowing "yes or no" bets on major stock indices, becoming the latest exchange operator to enter the rapidly growing prediction market. According to a rule change proposal submitted to the U.S. Securities and Exchange Commission, the company aims to list "binary options" on its flagship Nasdaq 100 Index and Nasdaq 100 Micro Index. The document shows that the pricing of Nasdaq contracts will range from 1 cent to 1 dollar, reflecting the market's view on the likelihood of a particular outcome. This will be Nasdaq's first foray into products mirroring prediction markets. These so-called "event-linked options" will allow traders to take binary positions on whether a specific event occurs. Binary options are simplified versions of options contracts, with payouts dependent on the outcome of a "yes or no" proposition. Financial contracts listed in the prediction market industry involve sports, politics, and pop culture. Unlike event contracts regulated by the U.S. Commodity Futures Trading Commission, such as Kalshi, Polymarket US, and CME Group, binary options are regulated by the U.S. Securities and Exchange Commission. Nasdaq's contracts are currently awaiting SEC approval.
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