Cboe Global Markets disclosed the deployment of its inaugural prediction market suite, branded as Cboe Predicts. This product line introduces binary options contracts anchored to the Mini S&P 500 Index (XSP), designated by trading codes XSPBW and XSPBX. The instruments are currently active on Interactive Brokers, with expansion to Charles Schwab anticipated in the coming months, followed by broader availability across additional retail brokerage platforms.

As the latest iteration of Cboe's S&P 500 Index (SPX) product series, these contracts offer traders a mechanism to speculate on XSP closing prices with contract sizes one-tenth that of standard SPX options, thereby enhancing accessibility for retail participants. Market makers can establish 'call' positions, yielding $100 if the settlement price meets or exceeds the strike level, or 'put' positions, returning $100 if the settlement falls below the threshold, with zero payout in opposing scenarios.