People have been prosecuted for sitting in on a court case and trading the second the ruling was made because it was deemed that the information was not yet pub

People have been prosecuted for sitting in on a court case and trading the second the ruling was made because it was deemed that the information was not yet public information. It’s definately not ok to trade based on insider information. Doesn’t matter if you just heard from you cousin who’s the CEO of a company that they are about to tank or reach for the moon. You might not work for the company but you are still guilty of trading on non-public insider information.