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P2P networks and the computations they enable hold great potential in creating the next generation of large-scale distributed applications. However, the P2P phenomenon has largely left untouched large organizations and businesses that have stringent security requirements and are uncomfortable with the anonymity and lack of centralized control/censorship which are the features of P2P systems. Hence, there is an urgent need to address the security concerns in deploying P2P systems which can leverage the underutilized compute resources in organizations across the world. This article proposes a containment-based security model (CBSM) for cycle-stealing P2P applications, based on the Secure Linux (SE Linux) Operating System, which alleviates existing security concerns, allowing peers to host untrusted or even hostile applications. Our approach is suitable for pure P2P applications and requires no message exchanges or trust computations in ensuring security. Testing via deployment of potentially malicious remote code proves the effectiveness of the proposed system.