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

Federal prosecutors charged Google employee Michele Spagnuolo with commodities fraud, wire fraud, and money laundering over alleged Polymarket bets tied to 2025 Search trends. Prosecutors say he used confidential internal data to know wager outcomes before the public, earning about $1.2 million, and was released on a $2.25 million bond.

The case highlights growing legal and compliance risks as prediction markets intersect with corporate data access. If prosecutors succeed, it could push tech companies and trading platforms to tighten controls around insider information and event-based wagering.