Google engineer charged with insider trading after making $1.2M on Polymarket

The U.S. Justice Department charged Google software engineer Michele Spagnuolo, known as AlphaRaccoon on Polymarket, with insider trading.

Prosecutors say he used nonpublic Google Search information to bet on the company’s 2025 Year in Search campaign and made more than $1.2 million.

The case underscores the legal risks tied to prediction markets and blockchain-based betting platforms.

It also signals that regulators are taking insider-trading allegations on crypto-linked markets more seriously.