Cboe Global Markets plans to launch trading contracts tied to company-specific key performance indicators, with Robinhood as the first retail broker to offer the new products.

The financial exchange operator said Wednesday the contracts aim to allow investors to trade on specific company metrics and corporate events through products that are regulated by the Securities and Exchange Commission and traded on its registered U.S. securities exchange.

The offerings, which still require approval from regulators, would come amid rapid growth for the prediction markets industry.

Cboe said its planned offerings would cater to growing demand for event-driven products, while differentiating its products from similar event-based contracts that are currently traded on designated contract markets.

Cboe's proposed framework "reflects its view that these securities products should be traded within the transparency, oversight and investor protections of the U.S. securities markets," the company said.

Cboe's planned KPI binary options would be available through SEC-regulated products traded on its U.S. securities exchange. Prediction markets offerings from key players like Kalshi and Polymarket are federally regulated by the Commodity Futures Trading Commission.

Cboe plans to initially list contracts for 23 U.S.-listed companies that it said represent some of the most actively-traded U.S. stocks.