[vlod]

I'm fairly certain it is. The way to think about it, do you have knowledge which isn't in the public domain which would give you an unfair trading advantage.

Here's some examples:

- In a closed door US senate committee, they are planning to stop all government vehicles from using fossil fuels. Stock of oil companies will mostly move.

- In a closed door US senate committee, they have decided to buy $50B of a vaccine from pharma provider FOO. Stock of FOO will likely move.

[troydavis]

> The way to think about it, do you have knowledge which isn't in the public domain which would give you an unfair trading advantage.

Matt Levine does a good job of explaining why that’s not the way to think about it: https://www.bloomberg.com/opinion/articles/2015-04-01/anothe...

As he’s stated many times, it’s about theft, not fairness. (Of course, there may be an argument that these examples are theft or a breach of trust or confidence.)