Nasdaq MRX, one of Nasdaq’s options exchanges, has submitted a filing to introduce cash-settled, binary-style contracts linked to the Nasdaq-100 Index, signaling growing interest among traditional financial institutions in prediction-market-like products.

According to a Monday filing with the US Securities and Exchange Commission, the exchange plans to launch “Outcome Related Options,” structured as yes-or-no contracts priced between one cent and one dollar. These instruments would allow traders to take binary positions tied specifically to outcomes involving the Nasdaq-100 and Nasdaq-100 Micro indexes, rather than events connected to sports, culture or politics.

The Nasdaq-100 includes some of the most prominent technology and growth companies in global markets, such as Nvidia, Apple, Microsoft, Amazon, Google, Meta and Tesla.

Wall Street expands into prediction-style markets

If approved by regulators, the proposed products would position Nasdaq alongside platforms already active in the rapidly expanding prediction market sector, including Polymarket and Kalshi. At the same time, cryptocurrency trading platforms such as Coinbase and Crypto.com have begun integrating similar event-based trading features.

Several other major financial institutions are also exploring the space. Intercontinental Exchange, CME Group and Cboe Global Markets have either invested in prediction-market initiatives or indicated plans to introduce comparable offerings. CME Group’s collaboration with American gambling company FanDuel is expected to support contracts tied to events beyond traditional financial markets, while Cboe’s planned products remain focused on financial and economic outcomes.

Meanwhile, crypto asset manager Bitwise recently filed with the SEC to launch “PredictionShares” exchange-traded funds designed to hold event contracts connected to the 2028 US presidential election. Similar filings were submitted earlier this year by GraniteShares and Roundhill.

Prediction markets emerged as one of crypto’s most active use cases last year, consistently exceeding $10 billion in monthly trading volume. Platforms such as Polymarket and Kalshi have expanded retail marketing efforts despite ongoing regulatory scrutiny aimed at limiting parts of the sector.

Expansion plans across multiple Nasdaq venues

Nasdaq also intends to make the Outcome-Related Options available on additional company-operated exchanges, including Nasdaq NOM and Nasdaq PHLX.

The MRX exchange currently operates under a first-come, first-served execution model and does not provide trading incentives. By contrast, Nasdaq NOM and Nasdaq PHLX use pricing structures that may reward participants for contributing liquidity, potentially shaping how trading activity develops across the different venues.

Sources:

https://listingcenter.nasdaq.com/assets/rulebook/mrx/filings/SR-MRX-2026-05.pdf

https://cointelegraph.com/news/nasdaq-files-prediction-market-offering