Cboe is taking an interesting step to enter the prediction market arena. They are developing a new options product with an all-or-nothing payout structure that could be a game changer in the industry. Basically, this is their way of modernizing the binary options concept they tried back in 2008 but failed to attract traders.

So, this product will offer yes-or-no contracts for various events, with fixed payouts if the event occurs or zero if it doesn't. Very similar to the mechanisms used by Kalshi and Polymarket, which have already proven popular. Cboe is in early discussions with brokers and market makers, but there’s no confirmed launch timeline or list of events yet.

What’s interesting is that Cboe wants to use their traditional options wrapper to deliver a better experience than their previous attempt. The focus is on clarity and a more intuitive user experience. This is important because the prediction market is booming right now — regulated Kalshi by CFTC is strong, Polymarket on blockchain is seeing volume spikes during macro or geopolitical events, and Coinbase just launched prediction market trading.

If Cboe manages to execute this with a simple logo reference and clean branding, they could tap into a huge market. A legacy financial exchange with credibility and infrastructure like Cboe entering this space could bring new legitimacy.

Oh, and FYI about XRP — this coin dropped sharply yesterday from $1.36 to $1.33 with high volume, indicating aggressive selling pressure. Now the price has broken below $1.35, which is a resistance level, along with the zone of $1.40–$1.41 that repeatedly blocks rallies. Worth watching for a breakout or bounce from here.