Microsoft updates its Insider Trading policy and has a message for employees to stop using these platforms

Microsoft has updated its General Insider Trading Policy to explicitly include ‘prediction markets and event contacts’. According to a report by Business Insider, in a filing with the Securities and Exchange Commission, the tech giant has warned the employees that trading on such platforms using confidential information is prohibited under securities laws and Microsoft’s own rules. The updated policy states: “You may not participate in third-party platforms, ‘prediction markets,’ or similar platforms to bet, wager, or establish positions in event contracts when such activity is based on, or involves the use of, confidential information about Microsoft or any other company (including customers, vendors, or partners of Microsoft or an economically-linked company such as a competitor of Microsoft) obtained through your position at Microsoft.”