MEMX, the exchange founded in 2019 by a consortium of major financial firms to increase competition in US equity trading, filed a proposed rule change with the SEC on August 11 to offer prediction contracts tied to public company performance. These contracts, called EPCs (Equities Based Exchange Prediction Contracts), allow traders to bet on whether companies meet specific financial targets, with prices ranging from $0.01 to $0.99. Correct bets settle at $1 while incorrect ones expire at zero. The exchange targets an early 2027 launch pending SEC approval, with Interactive Brokers among the initial distribution partners. MEMX positions itself as direct competition to Kalshi, a CFTC-regulated exchange, and Polymarket, the crypto-native prediction platform that gained significant traction during the 2024 US presidential election cycle.
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