If you’re an Apple employee or contractor planning to make money using insider information to gamble in legally-gray “prediction markets,” don’t. Apple has made its stance clear in a new filing.
Don’t bother using insider information to gamble in prediction markets
Don’t bother using insider information to gamble in prediction markets
Prediction markets skirt the legal definition of gambling, which means they have become widely available in the United States in spite of gambling laws. These markets can be used to bet on everything from when a location might see its first snow to what colors the latest iPhones will be sold in.
Regardless of the legality of these markets, Apple has made it clear that using insider information to participate is considered insider trading. While the companies like Polymarket already have insider trading rules, these enable Apple to act against violators from their end.