Google employee charged with $1M Polymarket insider trading bet on search term
A Google employee has been charged with insider trading after allegedly profiting $1.2 million from bets on Polymarket using confidential information. Michele Spagnuolo, an information security engineer, is accused of using internal data to predict search trends. He faces multiple charges, including money laundering and commodities fraud, and has been released on bond while the investigation continues.
- ▪Michele Spagnuolo was charged with fraud for making $1.2 million off bets using insider information.
- ▪He allegedly used confidential data to correctly bet on the most searched person in 2025.
- ▪Spagnuolo has been placed on leave by Google, which stated that using confidential information for betting is a serious breach of policy.
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Federal prosecutors charged a Google employee with fraud on Wednesday, alleging that he made $1.2 million off of bets using insider information on Polymarket.Prosecutors claim that Michele Spagnuolo, a staff information security engineer at Google, used confidential information to place trades correctly betting that singer d4vd would be Google's most searched person in 2025. Spagnuolo has been charged with money laundering, commodities fraud and wire fraud. The complaint, filed in the Southern District of New York, was unsealed on Wednesday. ABC News first reported on the complaint. Spagnuolo was arrested Wednesday morning in New York, ABC reported.
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