Apple Bans Trading on Prediction Markets Using Confidential Information

Apple has added a provision to its revised insider trading policy that prohibits employees from trading on prediction markets using confidential company information. The company disclosed these rules in its 2026 fiscal year 10-K form, published on November 3. The scope covers event contracts based on future outcomes that relate to Apple and to organizations with which Apple does business.

The ban prohibits betting, entering into contracts, selling, or trading on prediction markets and similar platforms in situations based on confidential information about Apple. It also prevents employees from sharing such information with others. The rule also covers confidential information about business partners, including suppliers, manufacturers, vendors, customers, and mobile network operators.

Apple defines confidential information broadly and includes important information that has not been made public. Under the policy, the restriction applies even if the conduct does not constitute insider trading or securities trading under the law. The rules also apply to people who have left Apple or been terminated. The restriction ends once a related product, service, or update is announced publicly, because the information is then considered to have reached the market.

The step follows growing concerns about the use of non-public information on prediction markets. In April, a special forces soldier, Gannon Ken Van Dyke, was charged with allegedly making successful trades on Polymarket using confidential information about the operation to capture Venezuelan leader Nicolás Maduro. He was indicted on three counts under the Commodity Exchange Act, wire fraud, and illegal monetary transactions. It is alleged that he earned approximately $409,000 from an investment of about $33,000.