Charles Schwab is working with Cboe Global Markets to launch a new type of options contract that will allow users to bet yes or no on the performance of the S&P 500, the Wall Street Journal reports, marking the brokerage’s first foray into forecast markets.

The feature is expected to be rolled out to Schwab customers in the coming months. The Journal reportedCiting people familiar with the matter

Unlike traditional prediction market platforms like Polymarket and Kalshi, which typically offer futures-style contracts linked to the outcome of events, Schwab’s product will act like a binary option, in which the contract will pay a fixed amount of cash or cash depending on whether the S&P 500 closes above or below a target price.

Schwab and Cboe are also in talks to offer a similar product linked to a Cboe feature known as the “Plus Zone,” which would allow traders to receive partial payouts when their forecast is close to the final outcome, even if the index doesn’t quite finish at the target level.