Google Employee Charged in Polymarket Insider Trading Scandal
Federal prosecutors have charged a Google employee with fraud, alleging he leveraged insider information about Google’s “Year in Search” data to make approximately $1.2 million on bets placed on the Polymarket platform. The employee, Michele Spagnuolo, allegedly accessed confidential, nonpublic search trend data, allowing him to accurately predict outcomes for various search market contracts. Spagnuolo faces charges including money laundering, commodities fraud, and wire fraud, and has been placed on leave by Google, which is cooperating with law enforcement in their investigation.
John Q. Hosedrinker