ION has expanded its XTP platform, adding event-based contracts to the solution to support growing institutional demand for prediction markets trading.
Samuel Shorthouse
Through the new offering, XTP will allow futures commissions merchants (FCMs) to process event contracts on a 24/7 basis, through an automated solution that aims to streamline contract creation, native event resolution, and settlement for event-based contracts.
The expansion makes XTP the only institutional-grade platform of its kind to offer access to event-based contracts.
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The offering also sees ION partnering with financial services firm and prediction market services provider, Wedbush Securities.
Specifically, Wedbush has selected ION to support event contracts on benchmarks economic indicators, politics and sports, with the aim of addressing the operational demands faced by FCMs looking to enter the prediction markets space through XTP’s deployment, functionality and processing capabilities.
Samuel Shorthouse, head of client engagement, cleared derivatives at ION, said: “As the industry pioneer for event contracts, we are also excited to partner with Wedbush Securities as they break new ground, bridging the gap between growing retail demand and the security and efficiency of institutional derivatives markets.”
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Currently, XTP serves as ION’s software platform, specifically designed for derivatives trading and post-trade processing, and brings clearing, settlement, risk management, reporting, and trade processing within one system.
Rodrigo Parrode, chief operating officer at Wedbush, said: “In response to client demand and our commitment to supporting their evolving needs, we partnered with ION Group to launch XTP for event contracts in under six weeks. This accelerated timeline reflects our ability to combine modern, scalable infrastructure with disciplined execution to deliver new products to market quickly, securely, and with institutional-grade reliability.”
The prediction markets space has garnered significant institutional traction over the last few months, and ION’s expansion is the most recent development for firms looking to open up access to event-based contracts.
In February 2026, Tradeweb entered a partnership with Kalshi, as the firm looks to expand institutional access to prediction market data and analytics and develop institutional trading infrastructure for event contracts.
The initial phase of the collaboration will see Kalshi’s real-time event probability data integrated into Tradeweb’s electronic trading platform, making the datasets available across its rates and credit marketplaces.