Apple officially restricts employee participation in prediction markets
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 Prediction markets skirt the legal definition of gambling, which means they have become widely available in the United States in…
Apple has officially prohibited its employees and contractors from participating in prediction markets that involve the use of confidential information. The company has issued a clear statement in a recent filing, emphasizing that engaging in such activities is considered insider trading. Prediction markets, which skirt the legal definition of gambling, have become widely available in the United States due to the rapid advancement of technology outpacing the development of relevant laws.
These markets allow users to bet on various outcomes, including the launch of new products or services. However, Apple has made it unequivocally clear that using any confidential information about the company or its partners to participate in these markets is strictly prohibited. This includes not only participating in the markets but also tipping confidential information to others who may engage in such activities.
The prohibition applies to all employees, regardless of their employment status with Apple. The company's stance extends to information related to unreleased or unannounced products, which becomes public knowledge once the product is revealed.
Written by urgent.news from AppleInsider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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