No, it's trading with information that you shouldn't have had access to. Think of it as being about misappropriate of information, theft, not fairness. If I have private satellites that I use to photograph cropland, and I use that information to trade agriculture futures, this is not insider trading even if nobody else is privy to the information. Similarly, if I have investigative journalists working for me and I trade based on their unpublished investigations, that's also not insider trading unless the journalists got the information from an insider. It's not about whether the public does have the information, it's about whether the information was gotten from someone who had a legal responsibility to not share it.

The finance writer Matt Levine writes on this topic somewhat frequently, I scrounged up an example.

https://www.bloomberg.com/opinion/articles/2019-03-13/you-ha...