Google engineer allegedly earns $1.2M through insider trading on Polymarket

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Release Time: 05/28/2026 01:07:03

Summary

The U.S. Department of Justice has charged Google engineer Michele Spagnuolo with insider trading on Polymarket, alleging he used non-public information to profit $1.2 million. On-chain analysis shows over $2.7 million in bets placed under the username 'AlphaRaccoon' on Google’s 2025 search trends. Google has suspended the employee and is cooperating with the investigation. Polymarket confirmed it is working with U.S. authorities and the CFTC, citing the transparency of on-chain data.

Odaily Planet Daily reports: The U.S. Department of Justice has charged Google software engineer Michele Spagnuolo with using confidential internal Google information to conduct prediction market trades on Polymarket, illegally profiting approximately $1.2 million.

The complaint shows that Michele Spagnuolo used the “AlphaRaccoon” account on Polymarket to place over $2.7 million in bets related to events surrounding Google’s “2025 Year-End Search Trends,” and is suspected of obtaining Google’s internal data on the most popular search subjects in advance to inform his trades.

U.S. prosecutors stated that the individual’s actions allegedly violated confidentiality obligations to the employer and constituted insider trading. Google said the employee has been suspended and the company is cooperating with law enforcement investigations. Polymarket stated that it is cooperating with U.S. prosecutors and the CFTC, noting that blockchain transactions are transparent and traceable. (TechCrunch)

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