Google employee charged with $1.2M insider trading on Polymarket using confidential search data
By
Davis Giangiulio
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Federal prosecutors charged Google employee Michele Spagnuolo with fraud for allegedly using insider information to place $1.2 million in bets on Polymarket. The charges, filed in the Southern District of New York, allege Spagnuolo used confidential information from his role as a staff information security engineer at Google to correctly bet that singer d4vd would be Google's most searched person in 2025. He faces charges of money laundering, commodities fraud, and wire fraud. This case follows another insider trading case on Polymarket from just over a month ago.
Key quotes
· 5 pulledFederal prosecutors charged a Google employee with fraud on Wednesday, alleging that he made $1.2 million off of bets using insider information on Polymarket.
Prosecutors claim that Michele Spagnuolo, a staff information security engineer at Google, used confidential information to place trades correctly betting that singer d4vd would be Google's most searched person in 2025.
Spagnuolo has been charged with money laundering, commodities fraud and wire fraud.
The complaint, filed in the Southern District of New York, was unsealed on Wednesday.
The complaint from the Southern District of New York comes just over a month after another insider trading case on Polymarket.
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