- The SEC approved Cboe Global Markets' proposal on October 13 to list binary options tied to company-specific KPIs, according to Yahoo Finance.
- Robinhood is anticipated to be the first retail brokerage to offer the KPI contracts. Trading has not commenced due to pending clearing approvals.
- Planned fee waivers through 2026 will limit immediate monetization of the KPI contracts.
- Missouri ordered six companies to stop offering sports event contracts. Robinhood, Kalshi, Polymarket and Underdog had not filed suit in Missouri federal courts as of Sunday, while Crypto.com and Novig sued on Friday.
- Bybit CEO Ben Zhou said Bybit plans to enter the U.S. with an established local partner, such as Interactive Brokers, to challenge Robinhood.
Quotes
“Bybit is the only one that's been sitting out of the U.S., and as a result we have a completely clear record there”
“Companies cannot repackage sports bets as 'event contracts' to evade Missouri law”