Charles Schwab to enter prediction markets with S&P 500 wagers: WSJ
Charles Schwab is reportedly preparing to enter prediction markets by offering yes-or-no contracts tied to the S&P 500, through a partnership with Cboe Global Markets. The product is expected within months and would let customers bet on whether the index closes above or below a set target price. This would be Schwab’s first move into prediction markets, a space already served by Kalshi and Polymarket. The company has also recently expanded into digital assets, launching spot Bitcoin and Ether trading for retail clients. Prediction markets are growing quickly, but they face heavy regulatory scrutiny from state authorities and some members of Congress. The CFTC says event contracts fall under its jurisdiction, and related disputes remain in litigation.
