Google engineer allegedly uses confidential company data to make USD 1.2 mn: Here is what happened
Follow UsA Google software engineer has been accused of using confidential company information to make over $1.2 million.
He used the name 'AlphaRaccoon' on Polymarket to place bets linked to Google’s 2025 Year in Search.
The case has led to insider trading charges from the US Justice Department.
A Google software engineer has been accused of using confidential company information to make over $1.2 million through bets placed on the prediction platform Polymarket. The case has led to insider trading charges from the US Justice Department. The accused employee, Michele Spagnuolo, has worked at Google for more than 12 years. He used the name ‘AlphaRaccoon’ on Polymarket to place bets linked to Google’s 2025 Year in Search, reports TechCrunch.
SurveyFor those unaware, Google’s Year in Search campaign reveals the most searched topics and personalities of the year. Spagnuolo reportedly accessed confidential internal search data to place winning bets.
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‘As alleged, Spagnuolo violated the duties he owed to his employer and used Google’s confidential business information to make more than $1.2 million in trading profits on Polymarket,’ Jay Clayton, the United States Attorney for the Southern District of New York, said. ‘Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted.’
While insider trading is illegal on prediction platforms, like Polymarket, some users still misuse confidential information to gain profits.
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A Polymarket spokesperson told TechCrunch, ‘Polymarket worked closely with the U.S. Attorney’s Office for the Southern District of New York and the CFTC, and is the only prediction platform to date whose cooperation has led to insider trading charges in the United States.’
Google has also confirmed the case and said that the employee has been placed on leave. The tech giant added that using confidential company information for betting is a serious violation of its policies.
