Google engineer charged with insider trading after making $1.2M on Polymarket
The Story
The U.S. Justice Department charged Google software engineer Michele Spagnuolo with insider trading, alleging he made $1.2 million on Polymarket using confidential business information. According to the complaint, Spagnuolo accessed internal Google Search data about the most-searched celebrities to place bets on Google’s 2025 Year in Search marketing campaign. Both Google and Polymarket stated they are cooperating with law enforcement.
Key Facts
- Michele Spagnuolo, a Google software engineer, was charged by the U.S. Justice Department with insider trading.
- He is alleged to have made $1.2 million trading on Polymarket using confidential business information.
- He used the username “AlphaRaccoon” on Polymarket.
- According to LinkedIn, he has worked at Google for over 12 years.
- He allegedly risked over $2.7 million on wagers related to Google’s 2025 Year in Search marketing campaign.
- He allegedly accessed confidential internal Google Search data about the most-searched celebrities to inform his bets.
- U.S. Attorney for the Southern District of New York Jay Clayton stated in a press release that Spagnuolo violated duties to his employer and used confidential information.
- A Google spokesperson said the employee accessed marketing material using a tool available to all employees, but using confidential information to place bets is a serious breach of policies, and the employee has been placed on leave.
- A Polymarket spokesperson stated the platform worked closely with the U.S. Attorney’s Office and the CFTC, and that blockchain trading is transparent and traceable.
Conflicting Reports
No conflicting reports identified in the source article.
Still Unclear
No open questions identified in the source article.
Misconceptions
No widespread misconceptions addressed in the source article.
Key Figures
- Michele Spagnuolo: Google software engineer
- Jay Clayton: United States Attorney for the Southern District of New York
- Polymarket spokesperson (unnamed in article)
- Google spokesperson (unnamed in article)
