TECH NEWS

A Google employee allegedly used inside information to win $1.2 million on Polymarket

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Federal prosecutors charged a Google employee with fraud after he allegedly made $1.2 million on Polymarket bets related to Search-related trends in 2025, as reported earlier by ABC News. In their now-unsealed complaint, prosecutors allege that Michele Spagnuolo “knew the outcome of these wagers before the trading public did because he had accessed Google’s confidential, commercially valuable internal data.” Spagnuolo was arrested in New York on Wednesday but released on a $2.25 million bond, ABC News reports. He is charged with commodities fraud, wire fraud, and money laundering.

Spagnuolo made bets on Polymarket under the username AlphaRacoon, with his successful search-related wagers catching the attention of outlets like Forbes and users on social media last December. In one instance, Spagnuolo correctly guessed that a singer named D4vd would “be the #1 searched person on Google” in 2025, despite the “near-zero probability” assigned by Polymarket, according to the complaint.

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US prosecutors charge Google engineer Michele Spagnuolo with using inside information to make $1.2M on Polymarket bets about Google's Year in Search results

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