Polymarket · Google · Engadget
Google employee accused of making $1 million from insider trading on Polymarket
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To the surprise of nobody at all, people are continuing to abuse prediction markets to make a quick buck.
Key facts
- He allegedly earned $1.2 million after betting that the top-searched person on Google for 2025 would be singer d4vd, then tried to hide the source of his sudden windfall
- Software engineer Michele Spagnuolo has been accused of using insider information from his employer to place bets on Polymarket about common Google search subjects
- A Google spokesperson shared the following statement with ABC News regarding the case: "They're working with law enforcement on their investigation
- To the surprise of nobody at all, people are continuing to abuse prediction markets to make a quick buck
Summary
He allegedly earned $1.2 million after betting that the top-searched person on Google for 2025 would be singer d4vd, then tried to hide the source of his sudden windfall. A Google spokesperson shared the following statement with ABC News regarding the case: "They're working with law enforcement on their investigation. Insider trading has been making headlines with some regularity on prediction markets.