> It is illegal to trade based on undisclosed material information the other party doesn't have Insider trading laws are designed to criminalize misuse of conf

> It is illegal to trade based on undisclosed material information the other party doesn't have Insider trading laws are designed to criminalize misuse of confidential information, they're not designed to create a fair playing field. > FWIW, I don't think Facebook actually has a large amount of material data in this scenario - a lot of what they possess (number of active users, platform engagement, etc) is already going to be known by the other party. Facebook knows how much money widget-makers are spending to promote widget product pages on Amazon.