A Google employee allegedly used inside information to win $1.2 million on Polymarket

Source: The Verge

Case Overview

Federal prosecutors charged a Google employee with fraud after he allegedly made $1.2 million on Polymarket bets related to search‑related trends in 2025, as reported by ABC News. In the unsealed complaint, prosecutors allege that Michele Spagnuolo “knew the outcome of these wagers before the trading public did because he had accessed Google’s confidential, commercially valuable internal data.”

Spagnuolo was arrested in New York on Wednesday but released on a $2.25 million bond, ABC News reports. He is charged with:

• Commodities fraud
• Wire fraud
• Money laundering

Spagnuolo placed the bets on Polymarket under the username AlphaRa…

Read the full story at The Verge.