Nasdaq has filed arequest with the U.S. Securities and Exchange Commission (SEC) to list binaryoptions tied to the Nasdaq‑100 index and its smaller microversion.

Nasdaq’s filing follows Cboe’s similar plans to offerprediction‑style derivatives. Both exchanges are responding toinvestor demand for simplified ways to speculate on short‑termmarket movements. The move would allow traders to make yes‑or‑nobets on the index’s direction, expanding event‑styletrading into U.S. equity markets.

Demand Grows for Event-Based Trading

Under the proposal, each contract would be priced betweenone cent and one dollar and pay a fixed amount if the condition is met,expiring worthless otherwise.

The structure resembles prediction‑marketcontracts used on crypto platforms such as Polymarket and Kalshi, where pricesreflect the perceived odds of an event. While prediction‑market platforms are regulated bythe Commodity Futures Trading Commission, Nasdaq’sbinary options would be subject to SEC oversight.

Crypto companies are also advancing into the space. Coinbasehas launched prediction markets for political and economic events, and Geminireceived CFTC approval in December to operate as a designated contract marketfor event‑based trading.

Joining Cboe, Coinbase, and Gemini

Cboe Global Markets is also moving into this space with itsown version of all‑or‑nothing, yes‑or‑nostyle contracts that closely resemble prediction‑market bets on events. Theexchange is exploring a regulated options product that offers fixed, all‑or‑nonepayouts, positioning it to compete with fast‑growing prediction platforms.

LATEST: ⚡ Cboe is developing binary options with all-or-none payouts on yes-or-no event contracts to compete with prediction platforms like Polymarket and Kalshi, according to the Wall Street Journal. pic.twitter.com/NKJPqpAVM6

— CoinMarketCap (@CoinMarketCap) February 2, 2026

Bloomberg has similarly reported that Cboe plans to roll outoptions that enable binary wagers on event outcomes as part of a broader pushinto prediction markets, using SEC‑regulated listed contracts ratherthan the lightly supervised or offshore structures common in crypto‑basedplatforms.

This article was written by Jared Kirui at www.financemagnates.com.