On June 30, Charles Schwab rose 3.26% in regular trading, trading at $94.115/share, with turnover of $68.50 million. The move was driven by news that Cboe Global Markets has officially launched its new prediction trading product line, Cboe Predicts, with Charles Schwab expected to offer these contracts in the coming months.

The first batch of products are binary options contracts tied to the mini S&P 500 index, which have already gone live on Interactive Brokers. Charles Schwab's head of trading services expressed optimism about the innovative model, planning to open contract trading to active trader clients. The contracts allow buyers to make yes-or-no bets on whether the index will exceed or miss a target price at closing, with an additional feature called \"the plus zone\" that allows partial payouts when predictions are directionally correct.

This move marks Charles Schwab's expansion from traditional brokerage services into the prediction market arena, potentially attracting incremental clients and generating new trading revenue. Analysts maintain an average overweight rating on the stock with a mean price target of approximately $121.

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