US charges Google employee with insider trading bets on Polymarket
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 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.