Can we at least debate the obvious externality that an insider might skew their advice or actions to personally profit instead of doing whatever they think is most appropriate for their job?

That seems like a big one

Yeah I agree that there are big negative externalities and this is one. I’m more talking about is someone with insider knowledge but not the ability to influence - is that a bad thing specifically for these type of markets?

That phenomenon exists regardless. There may be some benefit to make it transparent.

All war is for profit anyway - on sufficiently long time scales, stopping war is the imperative.