FBI says Google engineer used internal search data to win $1.2M on Polymarket
Ars Technica • • business
Key Points:
- Michele Spagnuolo, a Google software engineer, was arrested and charged with insider trading after allegedly using confidential Google data to make $1.2 million in profits betting on Polymarket about the most searched public figures in 2025.
- Spagnuolo accessed nonpublic "Year in Search" data through an internal Google tool and placed bets totaling over $2.7 million on outcomes that the public market considered unlikely, winning with near-perfect accuracy.
- The US Justice Department charged him with commodities fraud, wire fraud, and money laundering, while the Commodity Futures Trading Commission (CFTC) filed a civil complaint seeking disgorgement and penalties.
- Google has suspended Spagnuolo and is cooperating with law enforcement, emphasizing that using confidential information for betting breaches company policies.
- Authorities traced Spagnuolo’s cryptocurrency transactions linked to his Polymarket account, and the criminal charges carry a maximum combined penalty of 50 years in prison.