The definition and prosecution of insider trading in CFTC regulated markets has a much shorter history than SEC regulated markets, see e.g.: https://www.hflawre

The definition and prosecution of insider trading in CFTC regulated markets has a much shorter history than SEC regulated markets, see e.g.: https://www.hflawreport.com/2550376/cftc-resolves-its-first-insider-trading-case.thtml https://www.hflawreport.com/2550376/cftc-resolves-its-first-... https://www.lw.com/admin/upload/SiteAttachments/Alert%202827.v5.pdf https://www.lw.com/admin/upload/SiteAttachments/Alert%202827... So, in a way, this is a good and tricky questions that applies much more broadly to non-securities markets (e.g. commodity futures). (IANAL)