The Nasdaq desires to compete with Polymarket and Kalshi.
The inventory alternate has filed a proposed rule change with the U.S. Securities and Trade Fee (SEC) to record and commerce “End result-Associated Choices” (OROs).
If accepted, OROs would entitle patrons to obtain a hard and fast quantity primarily based on whether or not the settlement worth of the underlying contract is at, above, or under a predetermined strike worth at expiration, in accordance with the Nasdaq submitting.
The Nasdaq isn’t the one alternate going to bat in opposition to prediction markets: A Wall Avenue Journal report final month indicated the derivatives alternate Cboe World Markets has been in talks with retail brokerages to restart “all-or-nothing” choices contracts.
The Nasdaq’s OROs can be regulated by the SEC and commerce within the vary of $0.01 to $1.00, mimicking the construction of prediction market platforms like Polymarket and Kalshi. Predictions market platforms are regulated by the Commodity Futures Buying and selling Fee (CFTC) moderately than the SEC, nevertheless.
In a listening to with the Senate Banking, Housing, and City Affairs Committee final month, SEC Chair Paul Atkins famous that coordinating jurisdiction between his company and the CFTC on prediction markets is a “large challenge” each regulators are targeted on.
“I can absolutely say that the 2 companies might be harmonized greater than ever earlier than, and so we’re assembly as soon as every week to do this with our employees.”
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