Billionaire Says Insider Trading Should Be Fully Legalized

Billionaire Says Insider Trading Should Be Fully Legalized

You know how you curb illegal insider trading? Well, according to this one mega-rich billionaire: legal insider trading. In an interview on Bloomberg’s Odd Lots podcast, Thomas Peterffy, the founder and chairman of Interactive Brokers Group, argued that trying to stop the practice is futile, so you should let everyone do it and allow asset prices to correct themselves over time instead. He didn’t frame it as a naked ploy to allow kleptocrats to …