Should prediction markets be allowed to engage in insider trading? This question has recently sparked considerable discussion in the industry. On December 4th, the CEO of a leading exchange and the head of an asset management giant engaged in a dialogue about prediction markets at a high-end forum, with many points of contention. The former believes that prediction markets are an important emerging field with significant implications for 99% of users, but how to balance market fairness and innovative development—especially regarding trading activities involving insider information—remains a core issue the industry needs to consider. This involves balancing three dimensions: regulatory bottom lines, market integrity, and technological measures. The potential of prediction markets is undeniable, but the transparency and enforcement of rules will also determine the future trajectory of this sector.