Google engineer used confidential info to win $1.2M in Polymarket bets: feds
A Google Security Engineer Accused of Insider Trading on Polymarket
A Google security engineer, Michele Spagnuolo, has been charged with using confidential company data to place illicit Polymarket bets that resulted in a $1.2 million win, according to federal prosecutors. Spagnuolo, an Italian citizen living in Switzerland, has been accused of commodities fraud, wire fraud, and money laundering in a complaint unsealed in New York City.
Using the Polymarket account named “AlphaRaccoon,” Spagnuolo allegedly made bets between October and December last year utilizing confidential Google search data, leading to significant gains. His bets were based on internal Google search data that he accessed just before placing the wagers, with one bet predicting that D4vd would be Google’s most-searched person of the year in 2025.
After successfully winning the bet, Spagnuolo allegedly attempted to conceal his actions by obscuring the source and ownership of his proceeds. Google has stated that accessing company information for such purposes is a policy violation and that they are cooperating with law enforcement in the investigation.
Polymarket has reiterated its commitment to fair markets and enforcing rules against insider trading. Spagnuolo’s case is the latest in a series of insider trading incidents involving the platform, with a previous case involving a US soldier charged with using classified information to profit from Polymarket bets related to Venezuelan dictator Nicolás Maduro.
House Oversight Committee Chairman James Comer has demanded information from the CEOs of Kalshi and Polymarket following allegations of government insiders using internal information to profit off political events. The Commodity Futures Trading Commission is reportedly investigating suspicious oil trades tied to geopolitical events.
Spagnuolo, who has worked at Google since 2014, has not responded to requests for comment. US Attorney Jay Clayton emphasized the seriousness of insider trading, stating that it compromises market integrity and must be investigated and prosecuted.
