What Are the Key Differences between Front-Running in Traditional Options Markets and Crypto Spot Markets?

In traditional options, front-running often involves an intermediary (like a broker) using non-public information about a large upcoming order to trade options or the underlying asset first. This is a clear breach of fiduciary duty and market rules.

In crypto spot markets, front-running is often protocol-level, particularly in DeFi, where automated bots observe the public mempool and execute transactions based on gas fee priority. CEX front-running is closer to the traditional model, but regulatory enforcement is less mature.