The SEC approved on October 14, 2026 a rule change allowing Cboe Global Markets to list and trade binary options tied to key performance indicators reported by public companies. Cboe becomes the first US securities exchange cleared to offer this type of product, covering more than 100 metrics across 23 companies including Coinbase, Nvidia, Tesla and Apple. Robinhood Markets will distribute these contracts as the first retail broker and plans to waive fees through December 31, 2026, subject to regulatory approval. The contracts pay $1 if the metric threshold is met and $0 if not, with the outcome determined from data in company SEC filings. Following the announcement, Cboe shares rose more than 4% while Robinhood shares fell nearly 9%.
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