Charles Schwab to Launch Prediction Markets, Competing With Polymarket and Kalshi

Charles Schwab is partnering with Cboe to launch S&P 500 prediction market options, entering a space dominated by crypto platforms Polymarket and Kalshi. The move signals growing mainstream adoption of prediction markets.

• Charles Schwab is partnering with Cboe Global Markets to offer all-or-nothing options contracts on the S&P 500
• The contracts differ from Polymarket and Kalshi's futures-based offerings, using options instead
• Schwab plans to add a 'plus zone' feature allowing partial payouts for near-miss predictions
• Kalshi's institutional trading volume surged 800% in six months, while Polymarket ranks among top crypto protocols by fees
• The brokerage plans to stick to finance-related events with verifiable outcomes

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Last updated 20 Jun 2026