Abstract: A process for cracking olefins to produce propylene, ethylene, or both, includes providing a feed stream that includes mixed butenes and contacting the feed stream with a cracking catalyst at reaction conditions that cause at least a portion of the mixed butenes in the feed stream to react to form propylene, ethylene, or both. The cracking catalyst includes zeolite particles formed from shape selective zeolite particles and an alumina binder. The cracking catalyst further includes at least one transition metal oxide impregnated onto the zeolite particles, where the at least one transition metal oxide can be iron oxide, nickel oxide, or a combinations of these. The cracking catalyst with the iron oxide, nickel oxide, or both increases conversion of mixed butenes to propylene, ethylene, or both alone or in combination with a metathesis upstream of the cracking catalyst, as compared to conventional cracking catalysts.