FBI charges Google engineer with using internal search data to profit $1.2M on Polymarket bets
By
Jon Brodkin
Toasted just enough. A reliable bake, gently seasoned.
Summary
The FBI has charged a Google software engineer, Rakesh Spagnuolo, with using confidential internal Google data to place bets on Polymarket, a prediction market platform. Spagnuolo allegedly accessed Google's internal marketing materials showing search trends before they were publicly released, allowing him to bet on "Google Year in Search 2025" outcomes with near-certain knowledge of the results. He risked approximately $2.75 million across 25 bets and profited over $1.2 million. Google has placed the employee on leave and is cooperating with law enforcement.
Key quotes
· 3 pulledWe're working with law enforcement on their investigation
The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies. We've placed the employee on leave and will take the appropriate action.
Spagnuolo's AlphaRaccoon account risked approximately $2,754,092 on approximately 25 Google Year in Search 2025 outcomes that the market treated as unlikely
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