Google engineer charged with insider trading for using confidential search data to bet $1.2M on Polymarket
By
Wyatte Grantham-Philips
Pure flour-power. Hearty enough to carry you through lunch.
Summary
US prosecutors have charged Google software engineer Michele Spagnuolo (36) with insider trading, alleging he used confidential Google "Year in Search" data to place bets on Polymarket, a prediction market platform, earning over $1.2 million. Spagnuolo, an Italian citizen living in Switzerland who has worked at Google since 2014, allegedly operated under the username "AlphaRaccoon." Google confirmed the employee has been placed on leave and is cooperating with law enforcement, while Polymarket stated it is working with authorities. The case highlights growing concerns about insider trading in the rapidly expanding world of online prediction markets.
Key quotes
· 5 pulledU.S. prosecutors slapped insider trading charges against a Google employee this week, alleging the software engineer used confidential company information to pocket more than $1.2 million from prediction market platform Polymarket with bets on search trends.
Under the online name 'AlphaRaccoon,' they alleged, Spagnuolo used the company's 2025 'Year in Search' data to place bets on search trends before the data was published.
Google confirmed the employee has been placed on leave and is cooperating with law enforcement.
Polymarket also stated it is working closely with authorities.
The case underlines the latest concerns about insider trading in the growing world of speculative, 24/7 transactions now filling the internet.
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