Overview
- Nasdaq’s proposal covers Outcome-Related Options tied to the Nasdaq-100 and the Nasdaq-100 Micro Index.
- Each contract would pay a fixed $1 if the specified outcome occurs or expire worthless, with prices ranging from $0.01 to $1 to reflect implied probabilities.
- The exchange seeks to list the instruments as securities options subject to SEC rules rather than CFTC frameworks.
- The filing is under SEC review, and Nasdaq has offered no public statements beyond the submission.
- Rival efforts and market growth frame the move, with Cboe preparing similar products, Coinbase launching prediction markets, Gemini gaining DCM approval, and Kalshi plus Polymarket reporting about $18.4 billion in February volume.