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A comment on $70M in 60 Seconds: How Insider Info Helped Someone 28x Their Money. Parent comment

Re:$70M in 60 Seconds: How Insider Info Helped Someone 28x T... by pineaux on Saturday April 12, 2025 @02:40AM (#43661915)
You could make insider trading legal by law, but that would destroy a lot of the stock market because all non-insiders would basically set themselves up to be ripped off.
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Re:$70M in 60 Seconds: How Insider Info Helped Someone 28x T... by eru on Saturday April 12, 2025 @02:45AM (#43661940)
No, it wouldn't destroy the stock market. See https://news.ycombinator.com/item?id=43661926 for an explanation.

Summary: people are already allowed to trade on inside information (in the US), if the person who officially owns the information is ok with that. The prohibition on insider trading in the US is about fiduciary duty to the owner of the information, not about protecting the general public.

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