Nasdaq Files With SEC to List Binary ’Outcome’ Options on Nasdaq‑100

Nasdaq has filed with the U.S. Securities and Exchange Commission to list cash‑settled binary “Outcome Related Options” tied to the Nasdaq‑100 and a Nasdaq‑100 micro index. Contracts would trade for $0.01–$1 and pay out based on yes/no event results tied to index‑related outcomes (excluding sports, cultural or political events). Nasdaq MRX plans to offer the products on a first‑come, first‑served basis, while NOM and PHLX would use pricing that incentivizes liquidity. If approved the products would be regulated by the SEC rather than the CFTC, distinguishing Nasdaq’s offering from existing prediction platforms like Kalshi and Polymarket and crypto firms that have pursued similar markets. The filing is part of a wider push by traditional exchanges and institutions into event‑based derivatives — examples include ICE’s investment in Polymarket, CME’s partnerships, and Cboe’s binary initiatives — and follows a surge in prediction‑market activity since the 2024 U.S. election cycle. For crypto traders, Nasdaq’s move creates a regulated venue for binary bets on tech‑heavy index outcomes, which could shift options flow, volatility and hedging demand across equities and related crypto prediction products.