Yes, and for a simple reason is what the other side will tell you. They're going to say, no, no, no. Public officials having the ability to trade individual stocks results in corruption. It results in lobbying. It results in lots of terrible things. But that proves there might be some degree of harm. It does not prove that there is a moral duty or there is a moral duty. Hell, it doesn't even prove that it's morally legitimate to do so. And this is the premise behind anything that we choose to ban or not to ban. In order to prove that the government ought to restrict people's choices, it is not enough for them to prove that there is indirect harm. They also have to prove direct harm is occurring. And this is the premise behind any restriction of choice. The fact that the government prevents me from punching others is because that causes direct harm. The fact that the government lets me take a job that I want, even if that means that somebody else might not be able to take that job, is indirect harm that the government would not punish. Similarly, public officials being able to trade individual stocks might have an indirect harm. It does not, however, have a direct harm. It would thus be illegitimate for the government to restrict it.
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