Google Engineer Accused of Polymarket Insider Trading Says He Was Just ‘Gambling’
Michele Spagnuolo, the Google engineer arrested in May by US authorities for alleged insider trading on Polymarket, is making a new bold bet. On Wednesday, his legal team filed a motion to dismiss the charges against him. Spagnuolo isn’t outright denying that he made money using internal information from Google. Instead, his legal team says that the wagers were not financial instruments subject to regulation by the United States’ Commodities Exchange Act but rather good old-fashioned international betting that the US has no authority over.
Spagnuolo, who has been placed on leave from Google, is accused of committing commodities fraud, wire fraud, and money laundering. Using the alias “AlphaRaccoon,” he allegedly made a series of wagers on Polymarket’s flagship platform that resulted in profits totaling over $1.2 million. According to the criminal complaint, “AlphaRaccoon” correctly wagered that the singer D4vd, who gained notorietyfor his suspected connection to...
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