Cboe Revives Binary Options to Compete with Kalshi, Polymarket

Cboe Global Markets has reintroduced binary options, a type of S&P 500 contract, after a long absence. This move comes as the financial markets seek to compete with prediction platforms like Kalshi and Polymarket, which have gained popularity for their unique betting mechanisms. The revival of binary options highlights Cboe's effort to diversify its offerings and tap into the growing interest in speculative trading, potentially influencing market dynamics and investor behavior.