Polymarket · Google · New York · FBI · CoinDesk
The CFTC filed a civil case following the Department of Justice complaint, saying it was seeking monetary disgorgement
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Spagnuolo allegedly used an internal Google tool to track who the most-searched-for individuals were and transferred some $3.8 million in USDC to a Polymarket address, said the complaint, which was signed by FBI Special Agent Brandon Racz.
Key facts
- UPDATE (May 27, 2026, 22:30 UTC): Adds Google statement, additional context
- UPDATE (May 28, 2026, 01:22 UTC): Adds CFTC complaint
- Spagnuolo allegedly used an internal Google tool to track who the most-searched-for individuals were and transferred some $3.8 million in USDC to a Polymarket address, said the complaint
- Spagnuolo personally profited more than approximately $1,200,000 from his trades based on nonpublic information
Summary
A Google security engineer, Michele Spagnuolo, was arrested and charged over alleged insider trading by placing bets on Polymarket about what Google users were searching, U.S. officials alleged on Wednesday. According to a complaint unsealed by the U.S. Attorney's Office for the Southern District of New York, Spagnuolo used "material nonpublic information" to place bets on who would appear on Google's list of most-searched for individuals for 2025, after Polymarket began offering these markets last fall. The CFTC filed a civil case following the Department of Justice complaint, saying it was seeking monetary disgorgement, restitution and other penalties.