The U.S. government has charged Michele Spagnuolo, a Google software engineer, with insider trading after he allegedly profited $1.2 million through bets on Polymarket regarding which public figures would be the most searched on Google in 2025. Spagnuolo, an Italian citizen residing in Switzerland, was arrested on Wednesday and appeared before a federal judge in New York. The charges include commodities fraud, wire fraud, and money laundering, stemming from his alleged misuse of confidential information from Google to place profitable trades on a prediction market platform. According to an unsealed criminal complaint, Spagnuolo, using the account name 'AlphaRaccoon,' had prior knowledge of the outcomes of his wagers due to access to Google's internal data.
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Google Engineer Charged with Insider Trading for $1.2 Million Profit
Michele Spagnuolo, a Google engineer, has been charged with insider trading for allegedly making $1.2 million in profits on Polymarket by betting on future Google search trends. He faces multiple charges, including commodities fraud and money laundering, after misusing confidential information from his employer.
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FBI says Google engineer used internal search data to win $1.2M on Polymarket
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Google Engineer Charged with Insider Trading for $1.2 Million Profit