Charles Schwab to enter prediction markets with S&P 500 wagers: WSJ
Financial services giant Charles Schwab will reportedly enter the prediction markets business by offering customers wagers on the S&P 500. According to a Friday Wall Street Journal report, Charles Schwab is planning to launch options contracts allowing users to place yes-or-no wagers on the performance of the S&P 500 stock market index. The move, expected to roll out in a matter of months as part of a partnership with Cboe Global Market, could mark the companys first into prediction markets. Source: Kalshi While prediction market platforms like Kalshi and Polymarket offer a variety of event contracts based on the outcome of events, including those tied to politics, sports, weather and companies, the Charles Schwab product will reportedly only include yes-or-no bets on whether the S&P 500 closes above or below a target price. Cryptocurrency exchanges like Coinbase have also moved closer to prediction offerings with many projecting the market will reach $1 trillion in annual volume by 2030. In May, Charles Schwab announced the launch of spot Bitcoin and Ether trading for retail clients, marking the companys move deeper into digital asset services. The company reported a net income of $2.5 billion for the first quarter of 2026. Both Polymarket and Kalshi already offer similar
