Google Engineer Arrested For Using Company’s Own Search Data To Win $1.2 Million On Polymarket
A Google information security engineer, Michele Spagnuolo, has been arrested and charged with commodities fraud, wire fraud, and money laundering. Prosecutors allege he used confidential internal Google search data to place bets on the crypto-based prediction market Polymarket, winning approximately $1.2 million by knowing outcomes before the public. Using an internal tool showing real-time search trends, he reportedly placed successful wagers on contracts tied to Google's "Year in Search" rankings for 2025. This is the second federal criminal case involving Polymarket insider trading in just over a month, following an April arrest of a U.S. Army sergeant accused of using classified military information. The cases highlight increasing legal scrutiny of prediction markets, with blockchain transparency aiding prosecutors. Google placed Spagnuolo on leave and is cooperating with authorities.
bitcoinist05/28 14:31
