Prosecutors allege a Google software engineer used confidential search data to profit on the crypto prediction market.
A Google software engineer has been charged with commodities fraud, wire fraud, and money laundering after allegedly using nonpublic company data to earn $1.2 million on Polymarket. Michele Spagnuolo, an Italian citizen based in Switzerland, accessed confidential 2025 “Year in Search” information, prosecutors said.
The case highlights expanding regulatory scrutiny beyond traditional stock markets to include crypto-linked prediction platforms. Insider trading laws may apply to any nonpublic data used for trading, regardless of asset class or anonymity claims.
No immediate market reaction was reported, but the charges underscore risks for traders using confidential workplace information in decentralized markets.