News Summary

• Nasdaq and Cboe are introducing binary bets on financial market events, capitalizing on the success of Kalshi and Polymarket.
• The main way exchanges are trying to button up prediction markets is by launching their offerings under the approval of the Securities and Exchange Commission, not the Commodity Futures Trading Commission.
• President Trump is on the side of prediction markets, writing on Truth Social last week that the CFTC has, and should continue to have, sole authority over prediction markets.