A Google employee was charged with fraud for allegedly using confidential internal data to win $1.2 million on prediction market Polymarket. The employee, Michele Spagnuolo, allegedly placed bets on Google Search-related trends for 2025 using non-public information. He faces charges including commodities fraud, wire fraud, and money laundering.
Background
Prediction markets like Polymarket allow users to bet on the outcomes of future events, including corporate and political developments. Insider trading in such markets is illegal and can carry serious legal consequences, similar to traditional financial markets.
- Source
- The Verge
- Published
- May 28, 2026 at 06:30 AM
- Score
- 7.0 / 10