Traditional financial market businesses are increasingly trying to get in on the action. Intercontinental Exchange Inc, parent of the venerable New York Stock Exchange, recently invested $2bn in Polymarket. This week Nasdaq, the second biggest US financial marketplace, sought permission from America’s main market regulator, the Securities and Exchange Commission (SEC), to launch its version of event contracts, called “binary options”, which pay out on simple yes/no propositions, linked to movements in its main share index.
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