Google engineer charged with insider trading on Polymarket using confidential search data
By
Davis Giangiulio
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· 2 sourcesA Google engineer has been charged with insider trading for allegedly using confidential company data to make over $1 million in bets on the prediction market Polymarket. Federal prosecutors in the Southern District of New York charged Michele Spagnuolo with fraud, money laundering, and commodities fraud, Rolling Stone reported, after he allegedly wagered that singer d4vd would be Google's most searched person in 2025. The complaint, unsealed Wednesday, stems from trades that correctly predicted the search trend, coming just over a month after another insider trading case on the same platform, according to coverage on Bluesky.
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Summary
Federal prosecutors charged Google employee Michele Spagnuolo with fraud for allegedly using insider information to make $1.2 million in bets on Polymarket. The charges include money laundering, commodities fraud, and wire fraud, stemming from trades that correctly predicted singer d4vd would be Google's most searched person in 2025. The complaint was filed in the Southern District of New York and unsealed on Wednesday, coming just over a month after another insider trading case on the same platform.
Key quotes
· 3 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.
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