Google Engineer Charged in $1.2M Polymarket Insider Bet
Prosecutors say Michele Spagnuolo used confidential Google search data to make $1.2 million in Polymarket wagers and faces separate CFTC civil charges.
- Google software engineer Michele Spagnuolo was arrested Wednesday in New York after federal prosecutors unsealed charges of commodities fraud, wire fraud and money laundering, alleging he fraudulently made more than $1 million through Polymarket bets.
- Spagnuolo's access to Google's confidential search data enabled him to bet through an account named AlphaRaccoon that singer D4vd would rank as Google's most-searched person in 2025—a prediction Polymarket assigned near-zero probability to.
- Prosecutors alleged that unlike other traders, Spagnuolo "knew the outcome of these wagers before the trading public did because he had accessed Google's confidential, commercially valuable internal data." After winning, he "took deliberate steps to conceal his unlawful use of nonpublic information."
- Spagnuolo, an Italian citizen, was arrested in New York and scheduled to appear before a federal magistrate Wednesday, though it remained unclear whether he had secured legal counsel.
- This case marks the second prediction market prosecution by the Southern District of New York this year; soldier Gannon Van Dyke pleaded not guilty last month to similar charges involving Polymarket bets on the classified Venezuela raid that ousted Nicholas Maduro.
204 Articles
204 Articles
A Google Engineer Used Confidential Search Data to Win $1.2 Million on Polymarket, Feds Say — His Best Bet Involved an Alleged Killer
Michele Spagnuolo allegedly used internal data to bet on accused killer D4vd becoming Google's most-searched person of 2025.
In what is already seen as one of the most unusual cases of insider trading in the digital age, U.S. Justice arrested Michele Spagnuolo, a Google software engineer accused of setting up a million-dollar scam using confidential information from the world’s most famous search engine. Under the alias “AlphaRaccoon” (Alfa Raccoon), this 36-year-old Italian citizen based in Switzerland managed to bag more than $1.2 million by betting on Polymarket, a…
US charges Google security engineer with Polymarket insider trading
A Google security engineer was charged with insider trading after winning $1.2 million using confidential company data to place bets on the cryptocurrency-based Polymarket decentralized prediction market.
Google employee’s arrest raises questions about insider trading on prediction markets
A software engineer at Google faces federal charges after allegedly using insider information to make more than $1.2 million on Polymarket. Michele Spagnuolo, a 36-year-old Italian citizen living in Switzerland, is the latest prediction market user accused of insider trading. While the number of such cases have been mounting, actual arrests and charges have been rare. Spagnuolo, who traded under the account name “AlphaRaccoon,” is charged with…
Google Wonk Charged With Polymarket Insider Trading
Wired reports: A Google security engineer has been charged with crimes stemming from allegedly placing trades on Polymarket using confidential internal information from the tech giant. Michele Spagnuolo, a 36-year-old Italian citizen, was arrested this morning in New York, as first reported by ABC News. Spagnuolo is charged with one count each of commodities fraud, wire fraud, and money laundering. He has worked at Google since 2014 and was base…
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