Google engineer charged with making $1.2 million on Polymarket using insider information
By
Kara Scannell
Right out the toaster. Reliable, with some real depth.
Summary
Federal prosecutors in New York have charged Google software engineer Michele Spagnuolo with making approximately $1.2 million in profits on the prediction market platform Polymarket. The charges allege that Spagnuolo used confidential insider information he obtained through his work at Google about the most searched people of 2025 to place bets under the account name "AlphaRaccoon." The case involves both "yes" and "no" bets related to who would be the most searched individuals, raising questions about insider trading in prediction markets and the use of corporate confidential data for personal financial gain.
Key quotes
· 2 pulledFederal prosecutors in New York charged a Google software engineer with making roughly $1.2 million in profits from bets on the prediction market platform Polymarket by using confidential insider information he learned about the most searched people of 2025.
Michele Spagnuolo, the Google software engineer, allegedly used an account called 'AlphaRaccoon' to place multiple 'yes' and 'no' bets related to who would be the most searched people.
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