Charles Schwab and Citadel Securities Weigh Prediction-Market Push

Prediction markets allow users to trade “yes” or “no” contracts tied to event outcomes. Platforms including Kalshi and Polymarket have grown rapidly, with their combined monthly trading volume reaching a record $23.6 billion in March 2026. Brokerage Charles Schwab and market maker Citadel Securities are considering entering the sector, signaling that such products are moving from crypto and retail platforms into mainstream finance, though regulatory concerns and criticism that they resemble gambling persist.

On April 16, 2026, Charles Schwab CEO Rick Wurster said client interest was limited but that the company was very likely to offer prediction-market products. Citadel Securities said the same day that it was still monitoring liquidity. A June 19 report said Schwab was working with Cboe to launch yes-or-no binary options on the Mini-S&P 500 Index (XSP) within months. Correct predictions would pay a fixed cash amount, while incorrect ones would expire worthless.