Google engineer charged with insider trading after making $1.2M on Polymarket
techcrunch.com May 28, 2026

Google engineer charged with insider trading after making $1.2M on Polymarket

AI-summarised brief · reviewed before publication

The US Justice Department charged Google software engineer Michele Spagnuolo with insider trading, alleging he made $1.2 million on Polymarket using confidential business information. Spagnuolo, a 12-year Google employee, used the name "AlphaRaccoon" on Polymarket and accessed internal Google Search data to inform his bets on the 2025 Year in Search marketing campaign. He risked over $2.7 million on wagers related to the campaign, which reveals the world's most popular searches of the year. The charges compromise the integrity of markets and violate duties owed to his employer. Google has placed Spagnuolo on leave.

💡 Why It Matters

  • · Insider trading on prediction markets undermines trust in these platforms, and Spagnuolo's case highlights the need for stricter enforcement of rules and cooperation with regulators.