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Google Engineer Accused of Insider Trading on Prediction Market Gains

KVIA•Thursday, May 28, 2026 at 1:14 AM•CNN Newsource

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AI Summary

Michele Spagnuolo, a Google software engineer, has been charged by federal prosecutors in New York for allegedly using insider information to earn approximately $1.2 million through bets on the prediction platform Polymarket. The accusations state that Spagnuolo accessed confidential data regarding the most searched individuals of 2025, allowing him to predict outcomes before they were public. He faces serious charges including commodity fraud, wire fraud, and money laundering and was released on a $2.2 million bond with travel restrictions. Google has placed him on leave and is cooperating with the investigation, emphasizing that using internal information for betting violates their policies.

Key Details: • Spagnuolo made bets totaling over $1.2 million based on insider information. • He was released on a $2.2 million bond with travel restrictions. • Google has placed Spagnuolo on leave pending the outcome of the investigation. • This case follows another similar insider trading charge involving a U.S. special forces soldier.

legal fraud google insider-trading polymarket

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