"We are leveraging our enormous success in cash index option trading... We have strong interest from Schwab and others... They want their customers to have access to well-regulated markets." While unregulated offshore prediction markets get the media hype, traditional brokerages like Schwab need compliant, SEC/CFTC-regulated products to offer their massive retail client base. CBOE is building the exact infrastructure to capture this institutional and retail demand. LONG. CBOE is perfectly positioned to institutionalize and monetize the prediction market craze without the regulatory overhang faced by crypto-native platforms. Retail traders may prefer the user experience and broader, often unregulated, contract offerings of crypto-native platforms over traditional brokerage offerings.