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Google Engineer Accused of Insider Trading on Prediction Market for $1.2 Million

KVIA•Wednesday, May 27, 2026 at 11:54 PM•CNN Newsource

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AI Summary

Michele Spagnuolo, a software engineer at Google, faces federal charges for allegedly profiting approximately $1.2 million by using confidential insider information to place bets on the prediction market platform Polymarket. Spagnuolo reportedly accessed internal Google data to predict the most searched individuals of 2025, making trades that included a $613,000 bet against Pope Leo being the most searched person. He has been charged with commodities fraud, wire fraud, and money laundering, and was released on a $2.2 million bond. Google has placed him on leave and is cooperating with law enforcement in the investigation, emphasizing that using confidential information for betting violates company policies.

Key Details: • Michele Spagnuolo charged with commodities fraud, wire fraud, and money laundering. • He allegedly made $1.2 million in profits from insider information on Polymarket. • Spagnuolo was released on a $2.2 million bond with travel restrictions. • Google has placed him on leave and is cooperating with the investigation.

finance fraud google insider-trading polymarket

People & Organizations

GoogleUS Attorney’s Office for the Southern District of New YorkMichele Spagnuolo

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