Insider trading in stocks are prohibited but not for the reason most people think. It has nothing to do with someone having an unfair advantage in an informational sense, and everything to do with fiduciary responsibility.

The CEO and executive team has fiduciary responsibility to act in the financial best interest of the shareholders. Your broker too.

If you have insider info (Obtained legally) but no fiduciary responsibility you can act on it. That’s why congress members trading US equities based on decisions they’re privy to is not, from a legal perspective, insider trading. They don’t have a fiduciary responsibility to their constituents

"Insider trading is not about fairness, it is about theft" is a uniquely American approach that is not shared by other jurisdictions.