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Seems like the kind of thing that should be highly illegal.
Every single one of those traders belongs in prison. The failure to put them there leaves the system looking foolish, unable to claim any authority or legitimacy.
[flagged]
Yikes, you've been breaking the site guidelines so badly and so often that I've banned this account until we get some indication that you'll stop.

I hate to ban an account that has been here over 10 years and which at one time was a useful contributor, but we can't have posts like this or these:

https://news.ycombinator.com/item?id=47450327

https://news.ycombinator.com/item?id=47381872

https://news.ycombinator.com/item?id=47325414

https://news.ycombinator.com/item?id=47253563

https://news.ycombinator.com/item?id=47198948

https://news.ycombinator.com/item?id=47121338

https://news.ycombinator.com/item?id=47120814

If you don't want to be banned, you're welcome to email hn@ycombinator.com and give us reason to believe that you'll follow the rules in the future. They're here: https://news.ycombinator.com/newsguidelines.html.

Okay, so this is clearly corrupt, but is it illegal?

If not, add it to the United States Congress' many failings. If it is, since they spy on everything, it really shouldn't be hard to convict everyone who spilled the beans early. There's two halves to every transaction, and every trader probably told at least one other person, so there should be no shortage of people willing to rat on each other.