Overview
- Cboe confirmed it is developing a product using an options structure that pays a fixed amount if a condition is met and zero if it is not.
- Cboe is in early discussions with retail brokerages and market makers about product design and how trades would be handled.
- The exchange has not set a launch timeline, and it has not specified which outcomes or events the contracts might target.
- Analysts say the simple yes-or-no payoff could appeal to retail traders, positioning Cboe against platforms like Kalshi and Polymarket as well as efforts by CME Group with FanDuel and Coinbase’s partnership with Kalshi.
- Cboe’s renewed push follows a 2008 foray into binary-style options that were later delisted, with today’s event contracts still facing complex oversight from federal regulators and state actions that treat them as gambling.