Google engineer charged with $1.2M insider trading on Polymarket
Original: Google engineer charged with insider trading after making $1.2M on Polymarket
Why This Matters
Highlights growing regulatory scrutiny of prediction markets and insider trading risks
U.S. Justice Department charged Google software engineer Michele Spagnuolo with insider trading, alleging he made $1.2 million on Polymarket using confidential Google Search data about most-searched celebrities for Year in Search campaign.
The Justice Department charged Michele Spagnuolo, a 12-year Google employee using the alias 'AlphaRaccoon' on Polymarket, with insider trading. Spagnuolo allegedly risked over $2.7 million on wagers related to Google's 2025 Year in Search marketing campaign, using confidential internal Google Search data about most-searched celebrities to inform his bets. U.S. Attorney Jay Clayton stated the conduct 'compromises the integrity of our markets.' Google confirmed the employee accessed marketing materials through tools available to all staff but violated company policies. The company placed Spagnuolo on leave and is cooperating with law enforcement. Polymarket emphasized its cooperation with authorities and commitment to maintaining fair markets.