Traders will soon be able to bet on whether Coinbase, Robinhood and Marathon will hit their targets
In this news:
Key takeaways
- SEC Chairman Paul Atkins approved Cboe rule changes for cash-settled corporate target contracts.
- Robinhood is expected to be the first brokerage to offer these contracts to retail investors.
- Trading remains pending provisional registration for Cboe Clear U.S.
Cboe contracts on corporate targets approved
SEC Chairman Paul Atkins approved a rule change filed by Cboe Global Markets, according to a statement dated Oct. 13. The contracts are cash-settled and European-style, meaning they can only be exercised at expiration. They will settle on figures in companies' SEC filings, not numbers in earnings presentations.
Cboe plans to list the contracts this month, and Robinhood is expected to be the first brokerage to offer them to retail investors. Trading can't begin until Cboe Clear U.S., the clearing house, gets provisional registration, and a separate application is pending.
Regulatory outlook and market context
Atkins said the approval does not touch similar contracts overseen by the Commodity Futures Trading Commission (CFTC), such as those on prediction market platform Kalshi. He said agency turf fights have hindered innovation for decades, and the approval “reflects a new spirit of harmony, innovation, and investor choice.”
As for the market, analysts remain confident of bullish prospects after bitcoin’s successful defense of its 50-day simple moving average support this week.
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