Nithin Kamath (founder and CEO of Zerodha) raised concerns about potential insider trading related to the recent increase in gold and silver import duties in the United States. The US government raised customs duties on these metals to 15%, comprising a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC). Kamath pointed out that, unlike the US, Indian financial markets are more tightly regulated in certain grey areas. He noted the absence of unusual trading activity, such as changes in open interest, prices, or trading volumes in gold and silver contracts prior to the announcement. This lack of suspicious activity starkly contrasts with practices in less regulated markets, where insider trading is more prevalent. Kamath's comments also referenced previous allegations of insider trading during the Iran conflict, highlighting concerns around the normalization of such activities and the misuse of privileged information in financial markets.