Infinite money glitch. Buy IPO & Short Pre-IPO

So there is a pre-ipo market for SPCX trading around $160.

The IPO is $135.

So isn’t it a free arbitrage to just ask for some SPCX shares from your broker, short at $160 on “you know what” and profit off the difference.

Only rules are you need to hold for 30 days before selling.

Why isn’t everybody doing this?