Google employee accused of making $1 million from insider trading on Polymarket
Source: Engadget
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Allegations against Michele Spagnuolo
Software engineer Michele Spagnuolo has been accused of using insider information from Google to place bets on Polymarket about common Google search subjects. A federal criminal complaint charges him with commodities fraud, wire fraud, and money laundering. According to the complaint, he earned $1.2 million after betting that the top‑searched person on Google for 2025 would be singer d4vd, then attempted to conceal the source of his windfall.
The original report can be found on ABC News.
Google’s response
A Google spokesperson told ABC News:
“We’re working with law enforcement on their investigation. The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies. We’ve placed the employee on leave and will take the appropriate action.”
Insider trading on prediction markets
Insider trading has repeatedly surfaced in the world of prediction markets. Notable cases include:
- An employee of YouTuber MrBeast fined for insider trading on Kalshi – see the coverage on Engadget.
- Three political candidates suspended from Kalshi for similar violations.
- A special‑forces soldier who won $400,000 by betting on a political event.
- A bizarre scheme where someone allegedly used a hairdryer to rig Polymarket weather bets.
In response, Polymarket adopted new rules in March aimed at curbing insider trading. Whether these measures will be effective remains to be seen.
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