US based online trading outfit Interactive Brokers (NASDAQ:IBKR) has announced the launch of expanded trading hours for what the company calls Forecast Contracts. Eligible clients can now trade Forecast Contracts nearly 24 hours a day, Sunday through Friday. This provides the flexibility to manage risk and express market views on economic, government, and climate events whenever opportunities occur.

Forecast Contracts, also called Event Contracts and essentially a type of yes-no Binary Option product, provide a straightforward and cost-effective way to take a position on the outcomes of significant economic, government, and environmental events. Each contract is a “Yes” or “No” question, such as, “Will the United States economy enter a recession by the end of Q2 2025?” and allows investors to buy a position depending on their outlook.

Interestingly, IBKR is staying away from sports event related Forecast Contracts. Rival online broker Robinhood (NASDAQ:HOOD) is also adding Event Contracts including on sports events – effectively sports betting – although its attempt to launch a Superbowl Event Contract was yanked earlier this year, after pushback from regulators (both financial and gaming).

Steve Sanders, EVP of Marketing and Product Development, at Interactive Brokers said,

“Today’s markets react instantly to events happening across geographies and time zones. By extending trading hours for Forecast Contracts, we’re offering clients the flexibility to act on critical market developments as they unfold, regardless of when they happen.”

Forecast Contracts are available on multiple IBKR trading platforms, including IBKR Mobile, IBKR Desktop, Trader Workstation (TWS), Client Portal, and IBKR ForecastTrader, a dedicated web-based platform. Contracts are priced between USD 0.02 and USD 0.99 based on the market’s assessment of each event’s probability. A correct prediction settles at USD 1.00; an incorrect one settles at zero, providing a transparent, real-time indicator of investor sentiment.

Forecast Contracts are offered by ForecastEx LLC, a CFTC-regulated and wholly owned subsidiary of Interactive Brokers. They are available to eligible clients of Interactive Brokers LLC (US), Interactive Brokers Canada Inc., and Interactive Brokers Hong Kong.