Nasdaq moves to launch 'binary options' tied to the Nasdaq-100, stepping decisively into prediction markets

Nasdaq is seeking to launch cash-settled binary options products based on the Nasdaq-100 Index, widening its footprint into the prediction-market arena.

According to a U.S. Securities and Exchange Commission (SEC) filing cited by Cointelegraph on the 3rd (local time), Nasdaq MRX, an options exchange under Nasdaq, applied to list “Outcome Related Options.” The product is a yes-or-no style contract that trades at prices between $0.01 and $1.

Investors would be able to take binary positions on specific market outcomes linked to the Nasdaq-100 and the Nasdaq-100 Micro Index. Non-financial events such as sports, politics, and culture are not included.

The Nasdaq-100 includes major mega-cap tech names such as Nvidia (NVDA), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta (META), and Tesla (TSLA).

If approved by the SEC, Nasdaq would compete with existing prediction-market platforms such as Polymarket and Kalshi. More recently, digital-asset (cryptocurrency) trading platforms including Coinbase and Crypto.com have also been integrating prediction-market features.

On Wall Street, similar moves are gaining traction. Intercontinental Exchange (ICE), CME Group, and Cboe Global Markets have indicated they are investing in or planning to launch prediction-market products. CME Group plans to partner with U.S. betting operator FanDuel to support wagering on events beyond finance, while Cboe intends to focus on finance- and economy-related contracts.