Google Engineer Charged with $1.2M Polymarket Insider Trading Fraud
Michele Spagnuolo, a 36-year-old Italian Google engineer living in Switzerland, was charged by U.S. federal prosecutors in Manhattan with insider trading on the prediction market Polymarket. He allegedly used confidential Google "Year in Search" data to place $2.75 million in bets, earning $1.2 million by correctly predicting singer d4vd as the most searched person. Charged with commodities fraud, wire fraud, and money laundering, he faces up to 50 years in prison. Google placed him on leave and is cooperating with authorities.
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Google Engineer Arrested for Using Secret Search Data to Profit $1.2M on Polymarket Prediction Bets
Michele Spagnuolo, a 36-year-old Google software engineer, was arrested and charged with commodities fraud, wire fraud, and money laundering after allegedly using confidential internal Google search data to place $2.7 million in bets on Polymarket's 'most-searched person of 2025' prediction market. Trading under the username AlphaRaccoon, he made 25 separate wagers and profited $1.2 million by betting that Pope Leo XIV and Bianca Censori would not win, but that rapper D4vd would. Google confirmed the employee accessed marketing materials using internal tools, calling it a serious policy breach. The case adds to growing scrutiny of prediction markets, following a U.S. Army soldier charged with using classified information on Polymarket, and Kalshi suspending accounts of congressional candidates betting on their own races, which the platform labeled 'political insider trading.'
Yahoo FinanceGoogle Engineer Arrested for Using Secret Search Data to Profit $1.2M on Polymarket
Michele Spagnuolo, a 36-year-old Google software engineer, was arrested and charged with commodities fraud, wire fraud, and money laundering for allegedly using confidential internal Google search data to place $2.7 million in bets on Polymarket. He wagered on the platform's 'most-searched person of 2025' market, betting that Pope Leo XIV and Bianca Censori would not win, and that rapper D4vd would. He walked away with $1.2 million in profit. Google confirmed the breach of policy. The case adds to growing scrutiny of prediction markets, following recent charges against a U.S. Army soldier for using classified information on Polymarket and Kalshi suspending accounts of congressional candidates betting on their own races.
Yahoo FinanceGoogle Employee Charged with Insider Trading for $1.2 Million Polymarket Bets on Search Trends
U.S. prosecutors have charged Google software engineer Michele Spagnuolo with insider trading, alleging he used confidential internal Google 'Year in Search' data to place bets on the prediction market Polymarket, earning over $1.2 million. The 36-year-old Italian citizen, residing in Switzerland and using the alias 'AlphaRaccoon,' allegedly wagered on which individuals would be the most Googled in 2025, adjusting his bets as internal data evolved. Examples include initial bets on Kendrick Lamar and later switching to D4vd. The FBI traced the cryptocurrency payments. Google confirmed placing Spagnuolo on leave, calling the actions a serious policy breach. Polymarket stated it cooperated with authorities, highlighting its role in leading to insider trading charges. The case follows a similar charge last month against a special forces soldier who used classified information for Polymarket trades on Venezuela.
Fortune | FORTUNEGoogle Employee Charged with Insider Trading Over Polymarket Bets on Search Trends
The U.S. Department of Justice charged Michele Spagnuolo, a Google software engineer, with commodities fraud, wire fraud, and money laundering for allegedly using confidential company information to profit over $1.2 million on Polymarket. Between October and December 2025, Spagnuolo placed $2.75 million in bets on 23 Google 'Year in Search' contracts, correctly predicting outcomes such as whether d4vd, Zohran Mamdani, or Donald Trump would be the top searched person. The CFTC also filed charges, seeking restitution and penalties. Google confirmed it has placed the employee on leave and is cooperating with authorities. Spagnuolo, an Italian citizen residing in Switzerland, appeared before a U.S. magistrate judge in New York.
Yahoo FinanceGoogle Engineer Charged with Insider Trading on Polymarket Using Confidential Search Data
Michele Spagnuolo, a Google software engineer of 12 years, has been charged by the U.S. Department of Justice with commodities fraud, wire fraud, and money laundering. The DOJ alleges he ignored a 'Google Confidential' warning on an internal tool to access data about the most-searched celebrities, which he used to place bets on the prediction market Polymarket. He allegedly wagered $2.7 million of his own money across dozens of bets, netting $1.2 million. Among his bets, he wagered $937,688 that Bianca Censori would not be the top searched person, despite an 85% implied probability. Spagnuolo, an Italian citizen living in Switzerland, was arrested in New York and faces up to 50 years in prison if convicted. Polymarket stated it is the only prediction platform whose cooperation has led to insider trading charges in the U.S. Google confirmed it placed the employee on leave and is cooperating with law enforcement.
Fortune | FORTUNEGoogle Engineer Charged Over $2.75 Million in Alleged Polymarket Insider Trading Bets
Federal prosecutors have charged Michele Spagnuolo, a staff software engineer at Google, with commodities fraud, wire fraud, and money laundering for allegedly using confidential internal Google data to place approximately $2.75 million in bets on Polymarket prediction markets. Spagnuolo, who used the alias 'AlphaRaccoon,' allegedly accessed nonpublic 'Year in Search' data through an internal Google tool marked 'Google Confidential' and won about $1.2 million from predictions made between October 15 and December 4, 2025. The U.S. Commodity Futures Trading Commission has also filed a parallel civil complaint. This is the second federal prosecution for alleged prediction market insider trading, following a case against a U.S. soldier last month. Polymarket stated that blockchain trading is transparent and traceable, while Google confirmed Spagnuolo has been placed on leave pending further action. Industry observers view the case as a positive development for prediction markets, demonstrating that insider activity can be identified and prosecuted.
Yahoo FinanceGoogle Engineer Charged Over $2.75 Million in Alleged Polymarket Insider Trading Bets
Federal prosecutors charged Google staff software engineer Michele Spagnuolo, using the alias 'AlphaRaccoon,' with commodities fraud, wire fraud, and money laundering for allegedly using confidential Google 'Year in Search' data to place approximately $2.75 million in bets on Polymarket prediction markets between October 15 and December 4, 2025. Spagnuolo allegedly won about $1.2 million from the trades. The U.S. Commodity Futures Trading Commission filed a parallel civil complaint seeking restitution and penalties. This is the second federal prosecution tied to alleged prediction market insider trading, following a case against a U.S. soldier who used classified military information for Polymarket bets. Polymarket stated blockchain trading is transparent and bad actors leave footprints. Google confirmed Spagnuolo accessed marketing material through an internal tool and has been placed on leave pending further action. Industry observers noted the case demonstrates that insider activity on prediction markets can be identified and prosecuted.
Yahoo FinanceGoogle Employee Charged With Insider Trading on Polymarket
Federal prosecutors in the U.S. have charged Michele Spagnuolo, a staff information security engineer at Google parent Alphabet, with fraud related to bets he made on the prediction market Polymarket. Prosecutors allege Spagnuolo used confidential, non-public 'Year in Search' data to correctly bet that singer d4vd would be Google's most searched person of 2025, making $1.2 million. He has been charged with money laundering, commodities fraud, and wire fraud, and was arrested on May 27 in New York. Spagnuolo was released on a $2.25 million bond and also faces a civil insider trading case from the Commodity Futures Trading Commission (CFTC). Critics argue prediction markets like Polymarket enable profit from non-public information. GOOGL stock has risen 23% this year to $388.83.
Yahoo FinanceGoogle Engineer Charged with $1.2 Million Insider Trading on Polymarket
The U.S. Department of Justice has charged Michele Spagnuolo, a 36-year-old Italian Google software engineer living in Switzerland, with insider trading on the prediction market Polymarket. Operating under the username 'AlphaRaccoon,' Spagnuolo allegedly used confidential Google business information to place bets totaling approximately $2,754,000 between October and December 2024, generating over $1.2 million in profits. He faces charges of violating the Commodity Exchange Act, wire fraud, and money laundering, with a potential maximum sentence of 50 years. The case highlights growing scrutiny of prediction markets like Polymarket and Kalshi, which lawmakers accuse of enabling insider trading. Minnesota recently became the first U.S. state to ban such markets, and federal legislation has been proposed to regulate them.
All Content from Business InsiderU.S. charges Google engineer with insider trading on Polymarket
The U.S. Justice Department has charged Michele Spagnuolo, a 36-year-old Italian Google software engineer, with insider trading on the prediction market Polymarket. According to a complaint unsealed on Wednesday, Spagnuolo allegedly used confidential Google information to place bets on the company's most-searched list, earning $1.2 million in profits. He bet on long-shot candidates like indie pop musician D4vd, who topped the list after being arrested for murder, and rapper Kendrick Lamar. Google stated it is working with law enforcement and that using confidential information to place bets is a serious breach of policy. Spagnuolo has been placed on leave. Polymarket said it assisted law enforcement, marking the first time its cooperation has led to insider trading charges in the U.S. The case was filed in federal court in Manhattan; Spagnuolo lives in Switzerland.
The Hindu: Latest News today from India and the World, Breaking news, Top Headlines and Trending News Videos.Google Employee Charged with Insider Trading on Polymarket
Federal prosecutors in the Southern District of New York charged Michele Spagnuolo, a 36-year-old Google software engineer, with insider trading on the prediction market platform Polymarket. The Department of Justice filed a seven-page complaint alleging that Spagnuolo exploited his access to confidential, nonpublic data from Google's 'Year in...' initiative to make illicit trades. The case marks a notable intersection of big tech employment, prediction markets, and securities law enforcement. The charges were announced on Wednesday, highlighting the DOJ's increasing scrutiny of insider trading in alternative financial platforms.
Just In NewsGoogle Employee Charged with $1.2 Million Polymarket Insider Trading Bet on Search Term
Federal prosecutors in the Southern District of New York charged Google employee Michele Spagnuolo with fraud, alleging he made $1.2 million by using confidential internal Google data to place insider bets on Polymarket. Spagnuolo, a staff information security engineer, allegedly accessed nonpublic 'Year in Search' data to correctly bet that singer d4vd would be Google's most searched person in 2025. He was arrested Wednesday and charged with money laundering, commodities fraud, and wire fraud. Google stated it is cooperating with law enforcement and placed Spagnuolo on leave. The case follows another Polymarket insider trading incident in April involving a U.S. Army soldier who used classified information. Polymarket said it cooperated with authorities and that this is the first prediction market cooperation leading to insider trading charges in the U.S.
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