Google Engineer Charged in $1.2M Polymarket Insider Bet
- Google software engineer Michele Spagnuolo was arrested Wednesday in New York after federal prosecutors unsealed charges of commodities fraud, wire fraud and money laundering, alleging he fraudulently made more than $1 million through Polymarket bets.
- Spagnuolo's access to Google's confidential search data enabled him to bet through an account named AlphaRaccoon that singer D4vd would rank as Google's most-searched person in 2025—a prediction Polymarket assigned near-zero probability to.
- Prosecutors alleged that unlike other traders, Spagnuolo "knew the outcome of these wagers before the trading public did because he had accessed Google's confidential, commercially valuable internal data." After winning, he "took deliberate steps to conceal his unlawful use of nonpublic information."
- Spagnuolo, an Italian citizen, was arrested in New York and scheduled to appear before a federal magistrate Wednesday, though it remained unclear whether he had secured legal counsel.
- This case marks the second prediction market prosecution by the Southern District of New York this year; soldier Gannon Van Dyke pleaded not guilty last month to similar charges involving Polymarket bets on the classified Venezuela raid that ousted Nicholas Maduro.
192 Articles
192 Articles
US charges Google security engineer with Polymarket insider trading
A Google security engineer was charged with insider trading after winning $1.2 million using confidential company data to place bets on the cryptocurrency-based Polymarket decentralized prediction market.
Google Wonk Charged With Polymarket Insider Trading
Wired reports: A Google security engineer has been charged with crimes stemming from allegedly placing trades on Polymarket using confidential internal information from the tech giant. Michele Spagnuolo, a 36-year-old Italian citizen, was arrested this morning in New York, as first reported by ABC News. Spagnuolo is charged with one count each of commodities fraud, wire fraud, and money laundering. He has worked at Google since 2014 and was base…
Google employee charged with insider trading on Polymarket
{beacon} Technology Technology The Big Story Google employee charged with insider trading on Polymarket Federal prosecutors on Wednesday charged a Google employee with insider trading on Polymarket, marking the second case related to insider trading on prediction markets. © AP Photo/Matt Rourke, File In a seven-page complaint filed in federal court in the Southern District of...
Google engineer charged with using inside information to win $1.2M on Polymarket - The Boston Globe
A software engineer at Google unlawfully used confidential company information to make a series of bets that won him about $1.2 million on the online prediction market Polymarket, the Justice Department alleged in a criminal complaint Wednesday.
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