US charges Google employee with insider trading bets on Polymarket
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The Justice Department and the CFTC allege that Google software engineer Michele Spagnuolo profited $1.2 million on Polymarket after accessing non-public information at work.
Key facts
The Justice Department said on Wednesday that it unsealed charges against Google software engineer Michele Spagnuolo, accusing him of accessing unreleased internal information at Google and placing
The Justice Department and the CFTC allege that Google software engineer Michele Spagnuolo profited $1.2 million on Polymarket after accessing non-public information at work
US authorities have charged a Google employee with allegedly using information from the company to make bets on Polymarket and profit $1.2 million
The Justice Department charged Spagnuolo with commodities fraud, wire fraud and money laundering, and could face a maximum sentence of 50 years in prison
Summary
US authorities have charged a Google employee with allegedly using information from the company to make bets on Polymarket and profit $1.2 million. The Justice Department said on Wednesday that it unsealed charges against Google software engineer Michele Spagnuolo, accusing him of accessing unreleased internal information at Google and placing 25 bets worth $2.7 million on markets related to the most searched individuals on Google in 2025. Prosecutors said Spagnuolo owned the Polymarket account “AlphaRaccoon”, which profited $1.2 million on “outcomes that the market treated as unlikely” when Google published information on the most searched individuals in December. The Commodity Futures Trading Commission filed a twin complaint against Spagnuolo on Wednesday, making similar allegations of insider trading.