Overview
- Cboe announced the launch this week and listed the first Cboe Predicts contracts tied to the Mini‑S&P 500 (XSP) under the symbols XSPBW and XSPBX, which are available now through Interactive Brokers.
- The contracts clear centrally through the Options Clearing Corporation so they trade inside the same settlement and risk framework used for U.S. listed options.
- Reporting differs on payout design with several outlets describing simple $100/$0 binary payoffs and at least one describing a proprietary three‑outcome 'Plus Zone' partial‑payout model; that discrepancy remains unresolved in public coverage.
- Cboe says the product targets demand for very short‑dated, outcome-based trading and is avoiding sports and political event wagers while offering education through The Options Institute and a prediction markets hub for retail onboarding.
- The launch expands competition with crypto and regulated prediction platforms such as Polymarket and Kalshi and could shift some volume into exchange‑cleared options as more brokerages, including Charles Schwab, add access in coming months.