Apple Clamps Down on Employee Prediction Market Trading

Apple (NASDAQ: AAPL), the world’s largest company by market capitalization, is taking a hardline against employees and contractors leveraging sensitive company information for profit on prediction markets. In a word: Don’t. In a new Form 10-K filing with the Securities and Exchange Commission (SEC), the iPhone maker features an extensive section on insider trading prohibitions , including a section devoted to prediction markets in which the company tells staff to not trade on yes/no exchanges “based on confidential information.” The company doesn’t say if staff can still transact in other event contracts, such as sports derivatives , cryptocurrency and pop…