Kalshi, Polymarket Take on Stock Options With S&P 500 Bets

The classic way to bet on the direction of the S&P 500 Index is in the options market, buying puts or calls tied to a preset price.

But now, there’s an alternative: placing a bet on Kalshi Inc. or Polymarket, using event contracts that allow rookie investors to make all-or-nothing wagers on stocks and indexes hitting a certain level.