Google engineer charged with insider trading on Polymarket, profiting $1.2M
By
Joe Walsh
Pulled from the oven just right. Trustworthy, fact-dense, deeply satisfying.
Summary
A Google software engineer, Michele Spagnuolo, is facing federal charges for allegedly using confidential company information to place bets on Polymarket, earning over $1.2 million in profits. This marks the second insider trading prosecution against a user of the prediction market platform in recent months. The case highlights the growing legal scrutiny of prediction markets and insider trading involving non-traditional securities.
Key quotes
· 3 pulledA software engineer at Google is facing federal charges after allegedly betting on confidential company information on Polymarket, netting more than $1.2 million in profits.
The second insider trading prosecution against a user of the popular prediction market service in recent months.
In court papers released by the Justice Department, Michele Spagnuolo...
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