Nasdaq has filed a proposal with the US Securities and Exchange Commission (SEC) seeking approval to list binary options linked to its Nasdaq 100 index and the Nasdaq 100 micro index.
The New York-based exchange operator intends to introduce what it describes as Outcome-Related Options, contracts that would be priced between $0.01 and $1 and structured around binary outcomes tied to specific events.
A binary option, also referred to as an all-or-nothing option, pays out based on the result of a yes-or-no proposition. Under the proposed framework, traders would be able to take positions on defined outcomes associated with the Nasdaq 100, which tracks 100 of the largest non-financial companies listed on Nasdaq’s exchange.
Constituents include Apple, Nvidia and Intel. The Nasdaq 100 micro index represents one-hundredth of the full index value.
The filing comes as major US exchange operators explore the event prediction market segment, which has expanded into the mainstream following heightened public engagement during the 2024 US presidential race.
While CME Group, which is overseen by the Commodity Futures Trading Commission, has taken steps to capture retail demand for event-driven derivatives, exchanges supervised by the SEC, including Nasdaq and Cboe, have proceeded more cautiously amid an evolving regulatory environment.
Cboe has also indicated it is targeting a second-quarter launch for its own all-or-none style contracts focused on financial and economic events, subject to regulatory approval.
Nasdaq executives said last week that the operator would initially concentrate on the Nasdaq 100 index as it develops its presence in the prediction markets segment.
In November 2025, Light & Wonder confirmed it had converted its ASX Foreign Exempt Listing to an ASX Standard Listing and delisted from Nasdaq, aligning fully with Australian governance requirements.
The supplier introduced a revised board structure and new compliance policies as part of the transition.
The Nasdaq 100 excludes financial companies and is widely used as a benchmark for technology and growth stocks
