Polymarket · S&P 500 · Wall Street · Bitcoin · Cointelegraph
Charles Schwab to enter prediction markets with S&P 500 wagers: WSJ
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The offering from the financial services company will reportedly only include yes-or-no bets on whether the S&P 500 closes above or below a target price.
Key facts
- Financial services giant Charles Schwab will reportedly enter the prediction markets business by offering customers wagers on the S&P 500
- According to a Friday Wall Street Journal report, Charles Schwab is planning to launch options contracts allowing users to place yes-or-no wagers on the performance of the S&P 500 stock market index
- Both Polymarket and Kalshi already offer similar event contracts related to predictions on the S&P 500
- The US Commodity Futures Trading Commission (CFTC) under Chair Michael Selig has taken the position that event contracts on prediction markets qualify as “swaps” and the agency has exclusive
Summary
Financial services giant Charles Schwab will reportedly enter the prediction markets business by offering customers wagers on the S&P 500. According to a Friday Wall Street Journal report, Charles Schwab is planning to launch options contracts allowing users to place yes-or-no wagers on the performance of the S&P 500 stock market index. While prediction market platforms like Kalshi and Polymarket offer a variety of event contracts based on the outcome of events, including those tied to politics, sports, weather and companies, the Charles Schwab product will reportedly only include yes-or-no bets on whether the S&P 500 closes above or below a target price. In May, Charles Schwab announced the launch of spot Bitcoin and Ether trading for retail clients, marking the company’s move deeper into digital asset services.