A Google software engineer, Michele Spagnuolo, was charged by US authorities with fraud after allegedly using insider information to profit from bets on Polymarket. Prosecutors said he used an account named AlphaRaccoon to trade on markets tied to Google’s annual most-searched list for 2025. The total value of bets was about $2.75 million. Prosecutors alleged he predicted that indie pop musician d4vd would top the most-searched person list, making the wager hours after accessing confidential Google data. Spagnuolo faces charges including commodities fraud, wire fraud, and money laundering. Google said he is on leave and that using confidential information to place bets violates company policy, while Polymarket said it cooperated with the US Attorney’s Office.
"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. Spagnuolo has been placed on leave, according to a Google spokesperson. A Polymarket spokesperson said the company had worked closely with the US Attorney's Office on the investigation and that the firm is the only prediction platform to date whose cooperation has led to insider trading charges in the United Stat"
Read at www.aljazeera.com
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