Thomas Peterffy Says There Should Be No Bans on Insider Trading

Thomas Peterffy, the billionaire founder and chairman of Interactive Brokers Group Inc., has an answer to the insider-trading concerns dogging prediction markets: stop trying to prevent it — for the good of society.

Investors everywhere have been exposed to such shenanigans since the dawn of markets. Not only is preventing it futile, he says, assets get to the correct price faster when people do it.

“I’m in favor of not having any rules against insider trading. I would like all the information out there as soon as it’s available,” he said about all markets — not just predictions-based ones ...