Cboe Wins SEC Approval to List Binary Options on Coinbase, Robinhood, and Marathon KPIs
What happened: The SEC has approved Cboe to list cash-settled, European-style binary options tied to over 100 key performance indicators (KPIs) across 23 public companies, including crypto-linked name
What happened: The SEC has approved Cboe to list cash-settled, European-style binary options tied to over 100 key performance indicators (KPIs) across 23 public companies, including crypto-linked names like Coinbase, Robinhood, and Marathon Digital. The products will allow traders to bet on outcomes such as Coinbase’s trading volume or Robinhood’s customer growth. Launch is expected later this month, pending Cboe Clear U.S. registration, with Robinhood set to be the first retail broker and both Cboe and Robinhood waiving fees through year-end.
Why it matters: This marks a significant expansion of prediction markets into mainstream equities exchanges, potentially drawing users away from CFTC-regulated platforms like Kalshi. The move could increase transparency and hedging options for investors, but also raises questions about market manipulation and the blending of financial and speculative products. The SEC’s approval signals a willingness to experiment with new market structures, though the launch is contingent on clearing-house readiness.
Source: CoinDesk