Nasdaq Eyes Prediction Markets With SEC Filing

Nasdaq has filed with the SEC to list binary outcome contracts tied to the Nasdaq 100, signaling Wall Street’s growing push into prediction markets.

Nasdaq wants in on the fast growing prediction market business and is going through the SEC to do it.

The exchange operator has filed for approval to list what it calls Outcome Related Options, binary contracts priced between 1 cent and $1 that allow traders to bet on yes or no outcomes. The initial focus would be on the Nasdaq 100 index and its micro version, giving investors a way to take all or nothing positions tied to major market benchmarks.

If approved, this would mark Nasdaq’s first formal step into prediction markets. Unlike platforms such as Kalshi, Polymarket and Crypto.com, which operate under CFTC oversight, Nasdaq’s contracts would fall under the SEC framework. That distinction highlights the ongoing debate over which regulator controls event based derivatives.

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Wall Street is clearly paying attention. ICE has invested up to $2 billion in Polymarket, CME has partnered with FanDuel, and Cboe is pursuing similar binary offerings.

Prediction markets have surged since the 2024 election cycle. Now traditional exchanges want a share of that momentum.