Cboe (CBOE) Launches Prediction Markets Amid $24 Billion Volume Rise

Cboe Global Markets (CBOE) has launched its first prediction markets product focused on binary options based on the Mini-S&P 500 Index. The global trading volume for prediction markets surged to $24 billion in April, up from under $5 billion in September of the previous year. This expansion reflects a growing consumer demand for outcome-based trading. Cboe's contracts will initially be accessible on Interactive Brokers and later on Charles Schwab, with plans for additional brokerage platforms to follow.