Apple Banned Employees from Using Company Info for Prediction Markets

This week, Apple published its fiscal 2026 Form 10-K, which gives a detailed look at the company’s finances, business, and risks. However, the filing also included a revised insider trading policy that explicitly bans employees from trading on prediction markets and using confidential information to do so. Apple Announced New Rules Regarding Prediction Markets Trading The rise of prediction markets has opened up new opportunities for widespread fraud and insider trading. In some cases, the issue has become so prevalent that even the US defense secretary, Pete Hegseth, warned Pentagon staff about the practice’s dangers, saying it could expose sensitive military plans to foreign actors. While prediction market companies like Kalshi and Polymarket have various anti-insider trading policies, other large tech companies, like Apple, don’t have as well-established rules. However, the tech giant plans to change that thanks to its new prohibition. According to the document, employees are prohibited from participating 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, when such activities involve the use of Apple Confidential Information. This ban extends to Apple and any other entity the company works with, such as suppliers, manufacturers, vendors, customers (such as cellular network carriers), or other business partners. Employees are also prohibited from disclosing or tipping Apple Confidential Information to others who may use it to participate in such markets. Apple Confidential Information includes, but is not limited to, material nonpublic information. This prohibition applies regardless of whether the conduct would constitute insider trading or securities trading under applicable laws. Interestingly, the new rules also extend to employees who have left Apple or have been fired. However, once a product, service, or update has been publicly announced, the restrictions no longer apply, as the information is then in the public domain and no longer provides a basis for an informed wager. In other news about prediction markets, the field set a new record as the average daily volume of trading rose by 55% in October, reaching over $4 billion in daily trades.