Google software engineer charged over $1.2 million in Polymarket trading profits

The U.S. Department of Justice states Michele Spagnuolo used confidential Google search ranking data to place roughly $2.75 million in Polymarket prediction market bets in late 2025.

11h ago

Fact Check

The CFTC press release (9237-26) directly confirms charges against Michele Spagnuolo, a Google employee, for insider trading on Polymarket using nonpublic Google 2025 Year in Search information. The BBC reports approximately $2.7m in Google-related bets placed October-December 2025 (matching 'late 2025') with $1.2m profit, and TechCrunch confirms 'over $2.7 million' wagered and '$1.2 million in profit.' The claim's figure of '~$2.75 million in bets' is consistent with these reports. Minor caveat: the claim attributes the statement to DOJ alone, though both DOJ (SDNY) and CFTC filed actions.

Summary

Michele Spagnuolo, identified as a Google software engineer, has been charged with commodities fraud, wire fraud, and money laundering after U.S. prosecutors alleged he made more than $1.2 million trading contracts on Polymarket (crypto-based prediction market). According to the U.S. Department of Justice, he used confidential Google search ranking data connected to 2025 search results and placed about $2.75 million in wagers between Oct. 15 and Dec. 4, 2025. The case links alleged misuse of nonpublic corporate information to prediction market trading, an area where contracts can function like event-based financial bets tied to future outcomes.

Terms & Concepts

Polymarket: A crypto-based prediction market where users trade contracts tied to the outcome of real-world events.
Prediction market: A market structure that lets participants buy and sell positions based on whether a future event will occur.
Commodities fraud: A U.S. criminal offense involving deceptive conduct in markets overseen under commodities laws, including certain derivatives-like products.