Federal prosecutors charge Google engineer for allegedly using insider info to make $1.2 million on Polymarket | CNN Politics

Federal prosecutors in New York charged a Google software engineer with making roughly $1.2 million in profits from bets on the prediction market platform Polymarket by using confidential insider information he learned about the most searched people of 2025. Michele Spagnuolo, the Google software engineer, allegedly used an account called “AlphaRaccoon” to place multiple “yes” and “no” bets related to who would be the most searched person on Google, according to a criminal complaint. “Unlike the counterparties to his trades, Spagnuolo knew the outcome of these wagers before the trading public did because he had accessed Google’s confidential, commercially valuable internal data,” authorities allege in the complaint. Spagnuolo is charged with commodities fraud, wire fraud and money laundering. He appeared in court Wednesday and was released on a $2.2 million bond with travel restrictions. Google said Spagunolo has been placed on leave. A lawyer for Spagunolo was not immediately identified on the court docket. “We’re working with law enforcement on their investigation. The employee accessed our marketing material using a tool available to all employees, but usin