DOJ Charges Google Engineer With Using Insider Data For Polymarket Bets
The Justice Department unsealed an indictment on May 27 charging Google engineer Michele Spagnuolo with commodities fraud, wire fraud and money-laundering related to bets placed on the Polymarket prediction market.[1]
Prosecutors allege Spagnuolo used confidential internal Google search-trend data to place Polymarket wagers under the handle "AlphaRaccoon," netting about $1.2 million.[1] The Commodity Futures Trading Commission filed a parallel civil enforcement action, and Google said it has cooperated with investigators and placed Spagnuolo on leave for a serious policy breach.[1]
The indictment is the second known U.S. criminal case tied to prediction-market trades, coming weeks after prosecutors charged a U.S. Army master sergeant over Polymarket wagers.[1]
Show source details & analysis (1 source)
📌 Key Facts
- On May 27, 2026, DOJ unsealed an indictment charging Google engineer Michele Spagnuolo with commodities fraud, wire fraud, money laundering and related counts.
- Prosecutors allege Spagnuolo used confidential internal Google search-trend data to place Polymarket bets under the handle "AlphaRaccoon," netting about $1.2 million.
- The CFTC filed a parallel civil enforcement action, and Google said it has cooperated with investigators and placed Spagnuolo on leave for a serious policy breach.
- This is the second known U.S. criminal case tied to prediction-market trades, coming weeks after charges against a U.S. Army master sergeant over Polymarket wagers.
📰 Source Timeline (1)
Follow how coverage of this story developed over time