Chicago Board Options Exchange (Cboe) is in early discussions with retail brokers and market makers to relaunch binary options contracts, aiming to compete in the rapidly growing prediction markets. Kalshi and Polymarket reached a trading volume of $17 billion in January, setting a monthly record high. Cboe had launched the product in 2008 but subsequently withdrew it, and is now seeking to reposition the product as a starting point for retail investors entering the options market through compliant design. The plan will be regulated by the SEC or CFTC.