Google engineer charged with insider trading for using internal data to bet $1.2 million on Polymarket
By
Kali Hays
Kettled twice. Extra chewy, extra trustworthy.
Summary
A Google engineer, Michele Spagnuolo, has been arrested and charged by the US Attorney for the Southern District of New York with insider trading. He allegedly used his access to internal company information to place lucrative bets on the prediction platform Polymarket, making approximately $1.2 million. The case marks a significant legal action involving insider trading laws applied to prediction markets.
Key quotes
· 3 pulledA Google employee has been arrested for allegedly using his access to company information to successfully place lucrative bets on the prediction platform Polymarket.
The US Attorney for the Southern District of New York said it had charged Michele Spagnuolo, a Google engineer, with breaking insider trading laws because of several bets he placed through the platform.
Although Spagnuolo is an Italian citizen...
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