Sure, but it's not trivial to create derivatives in the current system. You'll need to work closely with a financial institution that has the resources and relationships in place to seek regulatory approval. This pretty much restricts the financial space to college-educated people in the first world with wealth and connections.
Right, that's a good thing. Otherwise you get the chimera monster Binance who actively trades against its customers via its insurance fund. There is no world in which they're not trading against their customers to liquidate their positions. You also have flashbots on DeFi platforms - is that still a thing?
