Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) to list "Outcome Related Options." These options contracts are linked to the Nasdaq 100 Index, with trading prices ranging from $0.01 to $1.00. These probability-based instruments are similar to prediction markets like Polymarket and Kalshi and will be regulated as securities options. This move comes at a time of a surge in prediction market trading activity, with Kalshi and Polymarket's combined monthly trading volume reaching a record $18.4 billion in February.

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