Crypto News: Nasdaq Proposes “Yes/No” Style Options for the Nasdaq-100 Index

Key Insights:

• Crypto news: Nasdaq MRX filed with the SEC for cash-settled binary options.
• Yes/no contracts priced from $0.01 to $1 on the Nasdaq-100.
• Focused on Nasdaq-100 stocks like Nvidia, Apple, and Tesla.
• Nasdaq may roll it out on NOM and PHLX, too.

As per the latest crypto news, traders may soon get a new way to take simple yes-or-no bets on the Nasdaq-100. This index includes heavyweight names like Nvidia, Apple, Microsoft, Amazon, Google, Meta, and Tesla.

Nasdaq MRX, one of Nasdaq’s options exchanges, filed paperwork to list cash-settled contracts built in a binary style. The move adds Nasdaq to a growing list of major financial firms experimenting with products that resemble prediction markets, but within a regulated options framework.

Crypto News: Nasdaq Takes First Step Toward Listing Prediction-Market Options on Nasdaq-100

In a filing to the U.S. Securities and Exchange Commission on Monday, Nasdaq said it wants to introduce what it calls Outcome-Related Options. The contracts would trade for as little as 1 cent and as much as $1. This means you only have to pay a small amount to back a clear yes-or-no outcome. Once it goes your way, the option gives you a fixed payout as settlement.

Importantly, the proposal keeps the focus on markets tied to finance. These contracts would allow traders to take binary positions on outcomes linked to the Nasdaq-100 Index and the Nasdaq-100 Micro Indexes.

At the same time, the filing drew a clear boundary around what the product would not cover. It would not be used to wager on non-financial topics such as sports, pop culture, or politics.

If regulators sign off, Nasdaq would be entering an arena that has been expanding fast. Platforms such as Polymarket and Kalshi have helped push event-style trading into the mainstream conversation.

Meanwhile, crypto trading firms, including Coinbase and Crypto.com, have also been moving in the same direction by integrating prediction-market-style products into their ecosystems.

Nasdaq Joins Other Competitors in the Space

Nasdaq is not alone on Wall Street. Other major players have already invested in the space or indicated plans to launch similar offerings.

As per recent crypto news, Intercontinental Exchange, CME Group, and Cboe Global Markets have each taken steps that point to more competition ahead. That’s because traditional market operators look for new ways to package short-dated, outcome-based trading.

Even so, the strategies differ. CME Group’s partnership with FanDuel points toward a broader range of markets that can stretch beyond pure finance. By contrast, Cboe’s approach has leaned toward contracts rooted in financial and economic outcomes, keeping the product closer to familiar trading territory.

The push has also reached the ETF world. Bitwise filed with the SEC last month to launch PredictionShares exchange-traded funds designed to hold event contracts tied to the 2028 U.S. presidential election. GraniteShares and Roundhill also filed similar proposals in February, showing that more issuers want a stake in event-driven products.

Over the past year, prediction markets became one of crypto’s most talked-about use cases, regularly topping $10 billion in monthly trading volume.

At the same time, marketing has ramped up. It is increasingly targeting everyday users. Meanwhile, some regulators have tried to tighten the rules. They are focusing on what these markets can offer and where they can operate.

Crypto News: Nasdaq to List the Product on More Than One Venue

As per the crypto news, Nasdaq also signaled it wants to expand the offering beyond MRX. It is seeking to make Outcome-Related Options available on other Nasdaq options exchanges as well, including Nasdaq NOM and Nasdaq PHLX.

That matters because these venues work differently. Nasdaq MRX operates on a simple first-come, first-served basis, and it doesn’t offer extra incentives to traders.

In contrast, Nasdaq NOM and Nasdaq PHLX essentially reward the firms that add liquidity. That means they will always attract more buyers and sellers, keep bid-ask spreads tighter, and make the market easier to trade.