Google engineer charged with using insider data to make $1.2M on Polymarket |
Google engineer charged with using insider data to make $1.2M on Polymarket
Michele Spagnuolo allegedly used confidential Google search data to place bets with near-perfect accuracy on the platform's Year in Search contracts
J. David Ake/Getty Images
Michele Spagnuolo, a software engineer at Google $GOOGL, was charged Wednesday with commodities fraud, wire fraud, and money laundering for allegedly using confidential company data to generate approximately $1.2 million in profits on the prediction market platform Polymarket.
Federal prosecutors in the Southern District of New York allege that Spagnuolo, a 36-year-old Italian citizen residing in Switzerland, accessed an internal Google software tool — marked "Google Confidential" in red text — to obtain nonpublic data about Google's 2025 Year in Search results. He then used that information to place trades on Polymarket between........