Google engineer accused of using insider information to profit $1.2 million on Polymarket, indicted by the U.S. Department of Justice

Odaily Planet Daily News The U.S. Department of Justice has indicted Google software engineer Michele Spagnuolo, accusing him of using Google's internal confidential information to trade on the Polymarket prediction market, illegally profiting approximately $1.2 million.

According to the indictment, Michele Spagnuolo, using the account "AlphaRaccoon" on Polymarket, placed bets totaling over $2.7 million related to Google's "Year in Search 2025" events. He is suspected of accessing Google's internal data on the most searched personalities in advance to guide his trades.

U.S. prosecutors stated that his actions allegedly violated his confidentiality obligations to his employer and constituted insider trading. Google said the employee has been suspended and the company is cooperating with law enforcement in the investigation. Polymarket stated that it has cooperated with U.S. prosecutors and the CFTC, adding that blockchain transactions are transparent and traceable. (TechCrunch)