I'm not sure getting rid of insider trading laws makes markets more fair. The incentives are still unchanged and the situation is still unchanged. For example,

I'm not sure getting rid of insider trading laws makes markets more fair. The incentives are still unchanged and the situation is still unchanged. For example, let's take two worlds: one with illegal insider trading and one with legal insider trading. With illegal insider trading: Banks learn about BASF's customers and front run derivatives to make money off the ensuing price change. With legal insider trading: Banks learn about BASF's customers and front run derivatives to make money off the ensuing price change. The two situations are the same but in one scenario the bad actors go unpunished. I think a better solution analysis would include upstream and downstream market participants, their goals/interests, and analyze the incentives for each institution and individual.