It’s not a libertarian argument for prediction markets that they should have insider trading, it’s the point of the exercise. The way they work is to incentivize people with knowledge to externalize the knowledge to the market. The concept of fairness doesn’t even make sense in that context.
So if a market is trying to maintain a veneer of fairness it’s just using a prediction market as cover and is something else.
So if a market is trying to maintain a veneer of fairness it’s just using a prediction market as cover and is something else.