🇺🇸🔮 U.S. authorities have reportedly charged a Google employee for allegedly using internal company information to place bets on Polymarket. According to reports, the employee allegedly generated around $1.2 million in profits from the trades. The case is drawing attention because it highlights the growing overlap between insider information, prediction markets, and the rapidly evolving world of crypto-based betting platforms.

🚨 NEW: GOOGLE ENGINEER CHARGED IN POLYMARKET INSIDER TRADING SCHEME Feds say the Google employee used confidential internal search trend data to place multimillion-dollar bets on Polymarket under the alias “AlphaRaccoon.” Onchain data reveals he made roughly $1.2M in profits before attempting to launder the funds through privacy tools and overseas accounts.

🧐 The U.S. CFTC Accuses a Google Employee of Insider Trading on Polymarket, Profiting Approximately $1.2 Million The U.S. Commodity Futures Trading Commission (CFTC) announced that Google software engineer Michele Spagnuolo is accused of illegally trading prediction contracts on Polymarket to profit approximately $1.2 million, and is charged with fraud and money laundering. The contracts in question pertained to “Who Will Be the Most Searched Person in 2025?” In its complaint, the CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations. Yesterday, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Michele Spagnuolo in the same court. Additionally, according to The Wall Street Journal, Michele Spagnuolo last year used Google Year in Search data—accessible only to a select group of employees—to place bets on Polymarket regarding the year’s most popular search figures, placing bets through the account “AlphaRaccoon” across 25 trades. He accurately predicted that Kendrick Lamar and d4vd would rank among the top five.

GOOGLE ENGINEER'S ALLEGED BETTING SCANDAL REVEALS MAJOR INTEGRITY THREATS IN PREDICTION MARKETS

🔴 Google Engineer Charged in Polymarket Insider Trading Case A Google engineer has been arrested and charged by federal prosecutors for allegedly using confidential internal search data to trade on Polymarket. The indictment claims the engineer placed bets on prediction markets based on non-public information about search trends and algorithm changes, according to Coindesk. This marks the second major arrest involving insider trading on a prediction market.

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Google engineer charged with insider trading on Polymarket

𝗧𝗛𝗜𝗦 𝗜𝗦 𝗔𝗖𝗧𝗨𝗔𝗟𝗟𝗬 𝗜𝗡𝗦𝗔𝗡𝗘. – Charlie Javice founded Frank in 2017, a platform that helped college students apply for financial aid – She grew it, got on Forbes 30 Under 30, and JPMorgan came calling with a $175 million acquisition offer – One condition, prove you have 4 million users – Instead of proving it, she paid a professor $18,000 to generate 4.25 million completely fake student profiles. Fake names, fake emails, fake everything. – JPMorgan bought it. Literally. – She walked into Chase as a Managing Director and pocketed millions in stock and bonuses – A few months later, JPMorgan ran a marketing campaign targeting Frank's "4 million customers" – 70% of the emails bounced. Frank's real user base was under 300,000. – An engineer later testified she asked him to help fake the numbers before the deal closed. He refused. Her response: *"We don't want to end up in orange jumpsuits."* – She ended up in orange jumpsuits. Convicted on all four counts. 85 months in prison. – Ordered to repay $287 million more than the deal itself – And because it was in the acquisition contract, JPMorgan still had to cover her $115 million legal bill – Jamie Dimon called it "a huge mistake." The judge told the bank they had themselves to blame for not checking. Nobody verified 4 million customers before wiring $175 million. A single test email would have ended the whole thing.