Apple Bars Staff From Trading Insider Data on Prediction Markets
A new SEC filing shows Apple has told employees and contractors not to use confidential company information to trade on prediction markets, as scrutiny of insider trading on these platforms grows.
Apple has formally barred its employees and contractors from using confidential company information to trade on prediction markets, according to a Form 10-K filed with the US Securities and Exchange Commission and reported by Casino.org News.
The filing contains an expanded insider trading section that addresses prediction markets directly, instructing staff not to use nonpublic information about Apple or its business partners when wagering or trading on event contracts tied to future outcomes.
Casino.org News quoted the filing's wording that staff must not "participate in 'prediction markets' or similar platforms to wager, bet, trade, buy or sell contracts based on the outcome of future events, or otherwise enter into event contracts" where that involves confidential information gained through their work at Apple.
The policy also prohibits employees from passing confidential information to others who might trade on it, with Apple stating the restriction applies "whether or not the activity constitutes insider trading or securities trading under applicable laws," per the filing.
The document does not specify whether staff remain free to trade on unrelated event contracts, such as those tied to sports, cryptocurrency or pop culture, leaving the restriction focused specifically on Apple-related confidential data.
Casino.org News framed the move as a sensible precaution given that prediction market platforms routinely list contracts tied to Apple product launches and company events, creating an obvious temptation for anyone with early knowledge of outcomes.
The outlet pointed to a precedent from earlier this year, when a former Google software engineer faced federal insider trading charges over allegations of using nonpublic information to earn $1.2 million on Polymarket.
Casino.org News also noted that Apple's move follows, by roughly three weeks, the SEC's approval of key performance indicator event contracts developed by Cboe Global Markets for trading on Robinhood.
Those KPI-linked contracts, which could eventually number over 100, cover a batch of 23 public companies including Apple, opening the door to trading tied to specific metrics such as earnings or iPhone sales figures.
Casino.org News described Apple's new policy as addressing a problem on the other side of that opportunity: the same contracts that let investors speculate on company performance also create fresh avenues for anyone with inside knowledge to exploit the market.