Charles Schwab / Cboe
Charles Schwab ($9.9 trillion client assets, ~37 million accounts) announced entry into prediction markets on June 19, 2026, via a partnership with Cboe Global Markets.
Regulatory posture
- Enters prediction markets via Cboe Options Exchange, bypassing CFTC DCM registration by linking products exclusively to financial benchmarks.
- Routing through SEC-regulated options infrastructure (Cboe Options Exchange; OCC clearing) is a deliberate strategy to avoid the CFTC DCM registration and state gambling-law litigation facing Kalshi, Polymarket, and Robinhood.
- Explicitly avoids sports, politics, and entertainment contracts, the categories drawing state AG enforcement against CFTC-registered rivals.
Licensing
- Other
- Cboe Options Exchange (SEC-regulated); OCC clearing
- DCM
- N/A — routes via Cboe, not CFTC DCM
- State coverage
- Avoids sports/politics; no state AG exposure anticipated
Products
Development timeline
Dated developments compiled for this operator, newest first. Select an entry for the full detail.
- August 1, 2026
Schwab distribution is still described as coming "in the coming months" rather than live as of August 1
- July 31, 2026
On its Q2 2026 earnings call (July 31), Cboe raised full-year revenue guidance and laid out a Phase 2 roadmap
On its Q2 2026 earnings call (July 31), Cboe raised full-year revenue guidance and laid out a Phase 2 roadmap — a company-fundamentals binary suite (EPS, revenue, margins) across 23 mapped companies, filed with the SEC in July and targeting a September launch pending approval.
- June 23, 2026
Cboe launched Cboe Predicts on June 23, 2026, with the first live contracts — yes/no Mini-S&P 500 binary
Cboe launched Cboe Predicts on June 23, 2026, with the first live contracts — yes/no Mini-S&P 500 binary options (XSPBW, XSPBX) — now trading on Interactive Brokers.
Regulatory history
No enforcement actions matching this operator by name.
Recent activity
Sia Insights
Sia's analysis from broader market, trading, and industry-press signals. Not a primary regulatory source and not legal advice.
- Jul 31, 2026cboe-predictsfinancial-benchmarks-only
Cboe Predicts' binary S&P 500 contracts (XSPBW/XSPBX) went live on Interactive Brokers in mid-July, with Schwab's own retail rollout still described as coming "in the coming months" rather than already live. The two firms are reportedly discussing extending the lineup to other financial benchmarks while explicitly continuing to avoid politics, sports, and entertainment — the categories driving state-level enforcement against Kalshi, Polymarket, and Robinhood.
Scoring is illustrative and based on public information. SiaPredict does not provide legal advice.