TECH NEWS

Google Employee Accused Of Making $1 Million From Insider Trading On Polymarket

https://www.engadget.com/img/gallery/google-employee-accused-of-making-1-million-from-insider-trading-on-polymarket/l-intro-1779922706.jpg

Who could have seen this coming?

PJ McDonnell/Shutterstock

To the surprise of nobody at all, people are continuing to abuse prediction markets to make a quick buck. Or according to accusations recently levied against a Google employee, a million quick bucks. Software engineer Michele Spagnuolo has been accused of using insider information from his employer to place bets on Polymarket about common Google search subjects. A federal criminal complaint has charged Spagnuolo with commodities fraud, wire fraud and money laundering. He allegedly earned $1.2 million after betting that the top-searched person on Google for 2025 would be singer d4vd, then tried to hide the source of his sudden windfall.

A Google spokesperson shared the following statement with ABC Newsregarding the case: "We're working with law enforcement on their investigation. The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place...

Copyright of this story solely belongs to engadget.com. To see the full text click HERE

Read more

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/isla5KxWDULw/v1/1200x800.jpg

Uber expands the list of criminal convictions that disqualify US drivers and expands the background-check timeline, possibly removing ~0.5% of active US drivers

Sponsor Posts Fast, affordable law for startups — Soxton automates startup legal so founders can move faster and sleep better. We handle incorporation, advisor, employment and commercial contracts. Join the waitlist for early access! Stop vibe coding analytics — Equals AI turns questions about your business into auditable spreadsheet models and dashboards.