Robinhood & Cboe win SEC nod for KPI options on 23 firms
The products will be fee-free until the end of the year as the firms chase rivals Kalshi & Polymarket.
The hit
The Securities & Exchange Commission approved Robinhood & Cboe Global Markets’ plans to list binary options tied to key performance indicators for 23 major public companies, according to the SEC filing. Robinhood will be the first retail broker to offer the products, according to the announcement, covering metrics such as Apple’s iPhone sales & Tesla deliveries.
Why it matters
The approval lets Robinhood & Cboe compete directly with prediction-market rivals Kalshi & Polymarket, which already offer similar KPI products. For bettors & traders, it means a new regulated route to wager on specific corporate numbers rather than share price alone, though HOOD shares fell this week ahead of 27 October earnings.
The record
| SEC approval date | Tuesday (SEC filing) |
|---|---|
| Companies covered | 23, including Apple, Tesla & Disney (SEC filing) |
| HOOD share move | Down 8% Wednesday, down 2.6% Thursday morning |
| HOOD 2026 performance | Down about 13% year to date |
| CBOE share move | Up 2.7% Thursday, up almost 22% this year |
| Wells Fargo price target | Cut $5 to $120 (TheFly) |
What happens next
Robinhood reports Q3 earnings on 27 October. The KPI options are due to launch this month with no fees charged through the end of the year.
Sources: Robinhood, Cboe Win Approval For Prediction Options
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