Google employee accused of making over $1.2M by insider trading on Polymarket
Summary
A Google software engineer, Michele Spagnuolo, is charged with making over $1.2 million by using secret Google search data to bet on Polymarket, a prediction market platform. He allegedly used inside information before it was public to place bets on which celebrities would be most searched in 2025.Key Facts
- Michele Spagnuolo used a Google internal tool to see top-trending searches for 2025 before public release.
- He placed millions in bets on Polymarket, a site where people bet on future events.
- His bets included predicting that singer D4vd would be among the most searched people of 2025.
- After the public release of the data, Spagnuolo transferred millions in cryptocurrency from Polymarket.
- He faces charges including commodities fraud, wire fraud, and money laundering.
- Spagnuolo was arrested in New York and released on $2.25 million bond.
- Google put Spagnuolo on leave and is cooperating with law enforcement.
- Polymarket flagged the suspicious activity and worked with federal authorities on the case.
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