{"id":886,"date":"2026-05-28T03:31:18","date_gmt":"2026-05-28T03:31:18","guid":{"rendered":"https:\/\/asianewscast.com\/2026\/05\/28\/google-employee-charged-with-insider-trading-over-polymarket-bets\/"},"modified":"2026-05-28T03:31:18","modified_gmt":"2026-05-28T03:31:18","slug":"google-employee-charged-with-insider-trading-over-polymarket-bets","status":"publish","type":"post","link":"https:\/\/www.asianewscast.com\/?p=886","title":{"rendered":"Google employee charged with insider trading over Polymarket bets"},"content":{"rendered":"<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__divider\">\n<div class=\"listen-to-article\"><button class=\"listen-to-article__button\" data-testid=\"listen-to-article-button\"><title>Listen<\/title>Listen (3 mins)<\/button><\/div>\n<div class=\"rich-share__update-reading-list-wrapper\">\n<div class=\"update-reading-list\">\n<p class=\"update-reading-list__button-text\">Save<\/p>\n<\/div>\n<div><\/div>\n<\/div>\n<div 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href=\"https:\/\/twitter.com\/intent\/tweet?text=Google%20employee%20charged%20with%20insider%20trading%20over%20Polymarket%20bets&amp;source=sharethiscom&amp;related=sharethis&amp;via=AJEnglish&amp;url=https%3A%2F%2Faje.news%2Fkrg28t\"><title>x<\/title><\/a><a class=\"rich-share__social-link row u-hidden--desktop\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Share on Whatsapp\" href=\"\/\/send?text=https%3A%2F%2Faje.news%2Fkrg28t\"><title>whatsapp-stroke<\/title><\/a><a class=\"rich-share__social-link row copylink\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Copy link\" href=\"https:\/\/aje.news\/krg28t\"><title>copylink<\/title><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><title>google<\/title><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><title>info<\/title><\/button><\/div>\n<\/div>\n<figure class=\"article-featured-image\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"eager\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2026\/05\/AP25308633078853-1779931871.jpg?resize=770%2C513&amp;quality=80\" alt=\"People walk past an electronic billboard showing candidates Zohran Mamdani and Andrew Cuomo\"><\/div><figcaption>An advertisement promoting betting on the Polymarket platform shows candidates Zohran Mamdani and Andrew Cuomo before the New York City mayoral election in New York, the US, on November 4, 2025 [Olga Fedorova\/AP Photo]<\/figcaption><\/figure>\n<div class=\"article-info m--t-20 m--desktop-b-30 m--b-mobile-20\">\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\"><a class=\"avatar\" aria-hidden=\"true\" href=\"\/author\/adam-hancock\"><\/p>\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2021\/11\/Headshot-1-1706763439.jpg?resize=96%2C96&amp;quality=80\" aria-hidden=\"true\"><\/div>\n<p><\/a><\/div>\n<div class=\"byline-content\">\n<div class=\"contributors-list contributors-list--byline\"><span class=\"contributors-list__by-prefix\">By <\/span><a href=\"\/author\/adam-hancock\">Adam Hancock<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<div class=\"date-simple\"><span class=\"screen-reader-text\">Published On 28 May 2026<\/span><span aria-hidden=\"true\">28 May 2026<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"wysiwyg wysiwyg--all-content\" aria-live=\"polite\">\n<p>A Google software engineer has been charged with fraud by US authorities after allegedly using insider information to win more than $1.2m in bets on the prediction market platform Polymarket.<\/p>\n<p>Michele Spagnuolo, an Italian citizen residing in Switzerland, is accused of using confidential information to wager on the results of Google\u2019s annual most-searched list, according to a criminal complaint unsealed on Wednesday.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 3 items<\/span><\/p>\n<ul class=\"more-on__list\">\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 1 of 3<\/span><a class=\"more-on__link\" href=\"\/news\/2026\/4\/17\/iran-wars-big-winners-wall-street-weapons-firms-ai-and-green-energy\">Iran war\u2019s big winners: Wall Street, weapons firms, AI and green energy<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 2 of 3<\/span><a class=\"more-on__link\" href=\"\/economy\/2026\/3\/4\/traders-mint-money-on-betting-platforms-on-us-israel-strike-on-iran\">Gamblers make big profits on Iran strikes, raising insider trading concerns<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 3 of 3<\/span><a class=\"more-on__link\" href=\"\/video\/the-take-2\/2026\/5\/4\/aje-onl-usa_polymarket_av_v2-040526\">Would you bet on the next disaster? The rise of prediction markets<\/a><\/li>\n<\/ul>\n<p><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>US prosecutors accuse Spagnuolo of using an account named \u201cAlphaRaccoon\u201d to make trades on various markets linked to the results of Google\u2019s 2025 Year in Search.<\/p>\n<p>The total sum of the bets was approximately $2.75m, according to the complaint, filed in federal court in New York.<\/p>\n<p>Among the bets, Spagnuolo successfully predicted that indie pop musician d4vd would top the list for the most-searched for person last year, hours after accessing confidential data at Google, according to prosecutors.<\/p>\n<p>Spagnuolo, 36, faces charges of commodities fraud, wire fraud and money laundering.<\/p>\n<p>\u201cToday\u2019s charges reinforce a decades-old message: corporate insiders cannot use confidential business information to turn a profit in our markets,\u201d US Attorney for the Southern District of New York Jay Clayton said in a statement.<\/p>\n<p>\u201cInsider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted,\u201d Clayton added.<\/p>\n<h2 id=\"bets-on-maduro-s-capture\">Bets on Maduro\u2019s capture<\/h2>\n<p>Google said in a statement that it is working with law enforcement and that using confidential information to place bets is a serious breach of company policy.<\/p>\n<div class=\"container--ads in-article-ads\">\n<div class=\"ads\"><span class=\"ads__title\"> Advertisement <\/span><\/div>\n<\/div>\n<p>Spagnuolo has been placed on leave, according to a Google spokesperson.<\/p>\n<p>A Polymarket spokesperson said the company had worked closely with the US Attorney\u2019s Office on the investigation and that the firm \u201cis the only prediction platform to date whose cooperation has led to insider trading charges in the United States\u201d.<\/p>\n<p>\u201cWe are committed to maintaining accurate, fair, and transparent markets as well as enforcing our rules and working with our regulators and law enforcement,\u201d the spokesperson added.<\/p>\n<p>Last month, a US soldier was <a href=\"\/economy\/2026\/4\/23\/us-soldier-charged-with-using-polymarket-to-bet-on-nicolas-maduro-abduction\">c<\/a>harged with using <a href=\"\/economy\/2026\/4\/23\/us-soldier-charged-with-using-polymarket-to-bet-on-nicolas-maduro-abduction\">classified military information<\/a> to place bets on Polymarket regarding the abduction of Venezuelan President Nicolas Maduro.<\/p>\n<p>Prosecutors accuse Gannon Ken Van Dyke, 38, of cashing in on the US operation against Maduro, to the tune of more than $400,000.<\/p>\n<div style=\"display:block;position:relative;min-width:0px;max-width:770px\">\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ListenListen (3 mins) Save Click here to share on social media share-nodes Share facebookxwhatsapp-strokecopylink googleAdd Al Jazeera on Googleinfo An advertisement promoting betting on the Polymarket platform shows candidates Zohran Mamdani and Andrew Cuomo before the New York City mayoral election in New York, the US, on November 4, 2025 [Olga Fedorova\/AP Photo] By Adam [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":888,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - 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