Google engineer charged with insider trading after making $1.2M on Polymarket – USA News 29 May 2026
According to the complaint, a Google engineer risked over $2.7 million on wagers related to Google's 2025 Year in Search campaign.
Date: May 29, 2026 | Source: TechCrunch | Category: USA News
Overview
According to the complaint, a Google engineer risked over $2.7 million on wagers related to Google’s 2025 Year in Search campaign.
Key Details
The first StrictlyVC of 2026 hits SF on April 30. Tickets are going fast. Register now.
Get Disrupt Early Bird savings of up to $410 by May 29, 11:59 p.m. PT. Register now.
Google engineer charged with insider trading after making $1.2M on Polymarket Amanda Silberling 5:45 PM PDT · May 27, 2026 The U.S. Justice Department charged Google software engineer Michele Spagnuolo with insider trading, alleging the employee made $1.2 million trading on Polymarket based on confidential business information.
Spagnuolo, who used the name “AlphaRaccoon” on Polymarket, has worked at Google for over 12 years, according to information on LinkedIn.
“As alleged, Spagnuolo violated the duties he owed to his employer and used Google’s confidential business information to make more than $1.2 million in trading profits on Polymarket,” Jay Clayton, the United States Attorney for the Southern District of New York, said in a press release. “Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted.”
Prediction markets like Polymarket, Kalshi, and others allow users to bet on pretty much anything. Insider trading is not allowed on these platforms because it’s illegal, but some users still commit the offense. The Justice Department recently charged a U.S. Army soldier for allegedly using his insider knowledge of the U.S. military operation to capture Venezuelan president Nicolás Maduro to make $400,000 on Polymarket.
According to the complaint, Spagnuolo risked over $2.7 million on wagers related to Google’s 2025 Year in Search, a marketing campaign in which Google reveals the world’s most popular searches of the year. Spagnuolo allegedly accessed confidential, internal Google Search data about the most-searched celebrities to inform his bets.
“Polymarket worked closely with the U.S. Attorney’s Office for the Southern District of New York and the CFTC, and is the only prediction platform to date whose cooperation has led to insider trading charges in the United States,” a Polymarket spokesperson told TechCrunch. “Blockchain trading is transparent, traceable, and bad actors leave footprints. We are committed to maintaining accurate, fair, and transparent markets as well as enforcing our rules and working with our regulators and law enforcement.”
A Google spokesperson told TechCrunch the company is working with law enforcement on its investigation.
“The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies,” Google said in an emailed statement, “We’ve placed the employee on leave and will take the appropriate action.”
Topics
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
Amanda Silberling Senior Writer
Amanda Silberling is a senior writer at TechCrunch covering the intersection of technology and culture. She has also written for publications like Polygon, MTV, the Kenyon Review, NPR, and Business Insider. She is the co-host of Wow If True, a podcast about internet culture, with science fiction author Isabel J. Kim. Prior to joining TechCrunch, she worked as a grassroots organizer, museum educator, and film festival coordinator. She holds a B.A. in English from the University of Pennsylvania and served as a Princeton in Asia Fellow in Laos.
You can contact or verify outreach from Amanda by emailing amanda@techcrunch.com or via encrypted message at @amanda.100 on Signal.
October 13-15 San Francisco Early Bird ticket savings of up to $410 end May 29, 11:59 p.m. PT. Connect with 10,000+ tech leaders in unparalleled networking, 200+ hands-on sessions led by 250+ industry leaders, and discover 300+ showcasing startups.
Most Popular Blue Origin’s New Glenn rocket explodes during testing in Florida Sean O'Kane
Meta launches Instagram, Facebook, and WhatsApp subscriptions, with more to come, including AI plans Sarah Perez
Tech CEOs are apparently suffering from AI psychosis Julie Bort
DuckDuckGo installs are up 30% as users reject being ‘force-fed’ Google’s AI Search Rebecca Bellan
6 kitchen gadgets that make adulting feel easier Lauren Forristal
I tried Amazon’s Bee wearable and am both intrigued and slightly creeped out Lucas Ropek
You can no longer Google the word ‘disregard’ Russell Brandom
Why This Matters for Exam Students
This USA news is important for students preparing for competitive exams including UPSC, SSC CGL, SSC CHSL, Railway RRB NTPC, IBPS PO, SBI PO and all state PSC examinations. Current affairs and general awareness are key sections in all these exams.
Frequently Asked Questions (FAQ)
- When was this news published?
- May 29, 2026
- What is this news about?
- According to the complaint, a Google engineer risked over $2.7 million on wagers related to Google’s 2025 Year in Search campaign.
- Which exams cover this topic?
- UPSC, SSC CGL, SSC CHSL, Railway RRB, IBPS, SBI PO, and all State PSC exams.
- Who reported this news?
- TechCrunch
Conclusion
Stay updated with the latest USA current affairs on Government Naukri Alert. Bookmark this page and visit daily for fresh exam-relevant news and government job updates.
Source: TechCrunch
📌 Also Read:
→ Latest Government Jobs 2026
→ Gujarat Government Jobs 2026
