Crypto World

Nasdaq follows Cboe joining world of ‘binary bets’ as prediction market craze hits Wall Street

Published

5 hours ago

2 March 2026

Nasdaq follows Cboe joining world of 'binary bets' as prediction market craze hits Wall Street

The Nasdaq stock exchange wants to list binary options tied to its flagship stock indexes, a move that would let traders place yes-or-no bets on the direction of major equity benchmarks like the Nasdaq-100.

In a Monday filing with the U.S. Securities and Exchange Commission (SEC), the exchange said it also plans to offer binary options on the Nasdaq-100 Micro Index.

A binary option is a bet with only two outcomes. Either the condition is met, and the bettor walks away with a profit, or the option expires worthless. Nasdaq’s proposed contracts would be priced between 1 cent and $1, reflecting the market’s view of the probability that a specific outcome will occur.

If approved, the products would function similarly to contracts on prediction market platforms such as Polymarket and Kalshi, giving traders a new way to express short-term views on the performance of one of the market’s most closely watched stock indexes.

The filing marks Nasdaq’s entry into a fast-growing corner of derivatives markets that blends traditional finance with the mechanics of prediction platforms. Rival exchange Cboe also announced plans to expand into the prediction markets business as interest in event-based trading has surged.

That push follows the rapid growth of platforms such as Polymarket and Kalshi, which allow users to trade on the outcomes of events ranging from elections to economic data releases. Those platforms are regulated by the Commodity Futures Trading Commission (CFTC) because they offer event contracts tied to real-world outcomes.

Binary options, however, fall under the SEC’s jurisdiction. Nasdaq’s proposal underscores how established exchanges are seeking to adapt the prediction-style format to regulated securities markets. Nasdaq had not responded to a request for comment by publication time.

Crypto exchanges have also moved quickly.

Coinbase recently rolled out prediction markets on its platform, giving digital asset traders access to contracts linked to political, economic and cultural events. Gemini received CFTC approval in December to operate as a Designated Contract Market (DCM), allowing the firm to offer regulated prediction markets to U.S. customers.

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Crypto World

NYSE Tokenized Stocks Draw Attention From TD Securities

Published

5 minutes ago

2 March 2026

NewsAdmin

NYSE Tokenized Stocks Draw Attention From TD Securities

TD Securities, a major Canadian investment bank with operations across North America, says tokenization may be approaching an institutional turning point following the New York Stock Exchange’s push into tokenized equities.

In recent commentary, TD Securities Reid Noch, vice president for electronic trading, said tokenization is beginning to carry real implications for market structure, pointing to the NYSE’s proposed tokenized equities alternative trading system (ATS) as a key development.

The planned platform would enable 24-hour trading and near-instant settlement of tokenized stocks and exchange-traded funds (ETFs), subject to regulatory approval.

Rather than creating a parallel crypto-native marketplace, the venue is designed to operate within existing US market rules while leveraging blockchain-based settlement infrastructure.

Noch described the structure as closer to a “2.0” market shift, where custody and settlement would remain anchored to the Depository Trust & Clearing Corporation (DTCC), while trading would comply with National Best Bid and Offer (NBBO) requirements. This means prices must reflect the best available bid and offer across U.S. exchanges to prevent fragmented liquidity.

Although Noch said early activity is expected to be retail-driven, the broader implications extend well beyond individual traders.

TD Securities’ institutional focus suggests the company sees potential impact on core market plumbing, including trading hours, collateral management, settlement cycles and liquidity, areas that shape how large financial institutions operate.

Tokenized equities gain institutional traction

Tokenization accelerated in 2024, led primarily by private credit and U.S. Treasury products, which have accounted for the bulk of onchain real-world asset (RWA) issuance, according to industry data.

Despite broader crypto market volatility, capital inflows into tokenized assets have continued, suggesting sustained institutional interest in blockchain-based settlement and ownership models.

More recently, tokenized equities have begun gaining traction. Kraken’s xStocks platform has emerged as one of the more visible entrants, reporting more than $25 billion in cumulative trading volume since launching last year.

*The market for tokenized stocks has grown rapidly. Source:* *RWA.xyz*

Although tokenized equities remain a small fraction of global stock market activity, their growth reflects a broader shift toward bringing traditional financial instruments onchain within regulated frameworks.