Google employee charged with insider trading over Polymarket bets

AL JAZEERA · 2026-05-28

A Google software engineer has been charged with fraud by US authorities after allegedly using insider information to win more than $1.2m in bets on the prediction market platform Polymarket. Michele Spagnuolo, an Italian citizen residing in Switzerland, is accused of using confidential information to wager on the results of Google’s annual most-searched list, according to a criminal complaint unsealed on Wednesday. list 1 of 3 Iran war’s big winners: Wall Street, weapons firms, AI and green energy list 2 of 3 Gamblers make big profits on Iran strikes, raising insider trading concerns list 3 of 3 Would you bet on the next disaster? The rise of prediction markets US prosecutors accuse Spagnuolo of using an account named “AlphaRaccoon” to make trades on various markets linked to the results of Google’s 2025 Year in Search. The total sum of the bets was approximately $2.75m, according to the complaint, filed in federal court in New York. Among the bets, Spagnuolo successfully predicted that indie pop musician d4vd would top the list for the most-searched for person last year, hours after accessing confidential data at Google, according to prosecutors. Spagnuolo, 36, faces charges of commodities fraud, wire fraud and money laundering. “Today’s charges reinforce a decades-old message: corporate insiders cannot use confidential business information to turn a profit in our markets,” US Attorney for the Southern District of New York Jay Clayton said in a statement. “Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted,” Clayton added. Google said in a statement that it is working with law enforcement and that using confidential information to place bets is a serious breach of company policy. Spagnuolo has been placed on leave, according to a Google spokesperson. A Polymarket spokesperson said the company had worked closely with the US Attorney’s Office on the investigation and that the firm “is the only prediction platform to date whose cooperation has led to insider trading charges in the United States”. “We are committed to maintaining accurate, fair, and transparent markets as well as enforcing our rules and working with our regulators and law enforcement,” the spokesperson added. Last month, a US soldier was c harged with using classified military information to place bets on Polymarket regarding the abduction of Venezuelan President Nicolas Maduro. Prosecutors accuse Gannon Ken Van Dyke, 38, of cashing in on the US operation against Maduro, to the tune of more than $400,000.

AI 시장 분석

A Google employee has been charged with insider trading related to bets made on the prediction market platform Polymarket. This illegal activity, involving the use of non-public information, raises concerns about corporate internal controls and information security.

하락 영향

Google (Alphabet/GOOGL) — The insider trading charge damages the company's reputation and trust in its internal control systems, potentially leading to regulatory scrutiny.
Tech Sector (Big Tech) — Illegal activities by an employee of a major tech company could intensify regulatory oversight across the entire tech sector, increasing pressure on companies for internal information management and ethical compliance.
Prediction Markets (Decentralized Financ — The use of a prediction market platform for insider trading could heighten regulatory scrutiny on such platforms and the broader Decentralized Finance (DeFi) space, potentially leading to new regulations.

AI가 생성한 분석으로 투자 자문이 아닙니다.

DYAX Investor Sentiment

Bullish (Long) 39% · Bearish (Short) 61%

411 participants

Related News

원문 보기 — AL JAZEERA