My understanding - "insider trading" is specifically for securities, and brought by the SEC. The equivalent for commodities is called "market manipulation", brought by the CFTC. Market manipulation is a much harder thing to prove than insider trading.

This kind of reminds me of the OpenSea "insider trading" scandal. [0]

Not a lawyer, not legal advice, etc.

[0] - https://www.mayerbrown.com/en/insights/publications/2025/09/...