TechFlow News, March 2: According to JIN10 Data, Nasdaq, Inc. plans to launch options contracts that allow “yes-or-no” wagers on major stock indices, becoming the latest exchange operator to enter the rapidly growing prediction markets. According to a proposed rule change filed with the U.S. Securities and Exchange Commission (SEC), Nasdaq seeks to list “binary options” on its flagship Nasdaq-100 Index and Nasdaq-100 Mini Index. The filing indicates that Nasdaq’s binary options will be priced between $0.01 and $1.00, reflecting market expectations of the likelihood that a given outcome will occur. This would mark Nasdaq’s first foray into prediction-market-style products. These so-called “outcome-based options” will enable traders to take binary positions on whether specific events will occur. Binary options are simplified versions of options contracts whose payouts depend on the resolution of “yes-or-no” propositions. Financial contracts listed in the prediction markets industry cover sports, politics, and popular culture. Unlike event contracts offered by Kalshi, Polymarket US, and the CME Group—which are regulated by the U.S. Commodity Futures Trading Commission (CFTC)—binary options fall under the jurisdiction of the SEC. Nasdaq’s proposed contracts are currently awaiting SEC approval.
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