Google Employee Charged for Insider Trading Win
May 27, 2026 at 22:30
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✦ AI Summary
- Employee allegedly used confidential data for profits
- Made $1.2 million on prediction market bets
- Charged with commodities fraud and money laundering
Federal prosecutors have charged a Google employee, Michele Spagnuolo, with fraud for allegedly leveraging insider information to win $1.2 million on Polymarket, a prediction market. Reports indicate that he had access to confidential internal data, allowing him to predict outcomes of specific wagers ahead of the general public.
Spagnuolo was arrested in New York and subsequently released on a $2.25 million bond. He now faces serious allegations, including commodities fraud, wire fraud, and money laundering. This case highlights ongoing concerns regarding insider trading in digital markets.
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