Google employee charged with using inside information to make $1M on Polymarket
Summary
A Google software engineer, Michele Spagnuolo, is charged with using secret company data to make over $1 million by betting on a prediction market called Polymarket. He had access to Google's internal search data, which helped him bet on future search trends before the public knew them.Key Facts
- Michele Spagnuolo worked as a software engineer at Google.
- He used confidential Google search data to place bets on Polymarket, a prediction market platform.
- Spagnuolo bet on the most searched person on Google in 2025 before this information was public.
- His account on Polymarket was named AlphaRaccoon.
- He earned about $1.2 million from these bets after Google announced its Year in Search 2025 results.
- Spagnuolo is charged with commodities fraud, wire fraud, and money laundering.
- He was arrested in New York and released on bail.
- Google said the employee accessed marketing data legally but misused it and has been placed on leave.
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