Charles Schwab is partnering with Cboe Global Markets to launch yes-or-no options contracts tied to the S&P 500, marking Schwab’s first move into prediction markets. The product would work like a binary option, paying a fixed amount or nothing depending on whether the index closes above or below a preset level, according to CoinDesk, citing a Wall Street Journal report. Rollout is expected in the coming months. Schwab and Cboe are also discussing “Plus Zone” contracts with partial payouts and potential expansion to other financial benchmarks, while avoiding politics or sports-linked markets.