Cboe Revives S&P 500 Binary Options as Schwab Prepares Rollout

On June 24, Cboe revived S&P 500 binary options after withdrawing similar products more than a decade ago, adding a flexible 'plus' structure for partial payouts and targeting volume growth inspired by Polymarket and Kalshi. The move follows June 19-20 announcements that Charles Schwab will offer the contracts to retail clients later this year through Cboe's infrastructure, extending its May launch of spot Bitcoin and Ether trading. The initiative highlights mainstream adoption of event contracts despite Schwab's prior CEO criticism and a 9% year-to-date share decline to $91.70.