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Google engineer charged for $1.2M insider trading on Polymarket prediction bets

Market News
28 May 2026
Market Watch
View Source
Bearish
pluang ai news

Michele Spagnuolo, a Google software engineer, was charged by the FBI and U.S. attorney with commodities fraud, wire fraud, and money laundering after allegedly using nonpublic Google search trend data to place $2.75 million in bets on Polymarket. The account linked to Spagnuolo made highly accurate bets on search trends, earning over $1.2 million in profits. This case highlights growing concerns about insider trading in prediction markets and may prompt increased regulatory scrutiny.

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