Post #78421 by albaby1 on the US Policy board

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He controls whether he goes or not--which would be the equivalent of a pro athlete betting on whether he/she was at a particular game.

It's not the equivalent.

The issue with insider trading isn't control. Or fairness. The underlying grounds for insider trading is theft. If you make money based on information that is the property of your employer, you are taking something that isn't yours to take and making money off of it you're not entitled to. That's the fraud.

If a pro athlete bets on whether he will play in a particular game for his team, he's using information that he has by virtue of his employment. That's insider trading. If a pro athlete were to bet on whether he would attend a game in another sport ("Will LeBron James be at the Super Bowl?"), though, that's a different situation from the perspective of the securities/commodities laws.

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