Nasdaq Files to Launch Prediction Market Products
Nasdaq is seeking regulatory approval to offer prediction market contracts, joining a growing roster of Wall Street incumbents targeting the booming event-betting sector, Bloomberg reported.
In a filing submitted to the Securities and Exchange Commission on Monday, Nasdaq proposed listing "Outcome Related Options" — binary contracts priced between $0.01 and $1 that pay out based on whether a specified event occurs.
The filing marks the exchange operator's first move into prediction markets, a space that has generated billions in weekly trading volume over the past year. Unlike existing platforms such as Kalshi, Polymarket, and Crypto.com — which operate under Commodity Futures Trading Commission oversight — Nasdaq's contracts would fall under SEC jurisdiction.
The regulatory distinction highlights an ongoing turf battle between federal agencies. CFTC Chairman Michael Selig has pushed back against state gaming regulators claiming oversight, while SEC Chair Paul Atkins has suggested some prediction markets could fall under his agency's purview.
"Prediction markets are exactly one thing where there's overlapping jurisdiction potentially," Atkins said in recent Congressional testimony. "That is a huge issue we're focused on."
Nasdaq joins several traditional finance players staking claims in the sector. Intercontinental Exchange, owner of the New York Stock Exchange, invested $2 billion in Polymarket in October, valuing the crypto-native platform at $9 billion. CME Group has partnered with FanDuel on event contracts, while Cboe is in talks with brokers to offer similar binary options products.
You May Also Like
Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?
SEC issues advisory on unregistered ‘Salmon’ and ‘Mabilis’ lending apps
