Google engineer arrested for using internal search data to win $1.2 million on Polymarket

A Google security engineer, Michele Spagnuolo, was arrested in New York over alleged insider betting on Polymarket.

Prosecutors say he used nonpublic Google Year in Search data to place about $2.7 million in bets and make roughly $1.2 million in profit.

He faces charges including commodities fraud, wire fraud, and money laundering, while the CFTC also filed a civil case.

The case shows how confidential corporate data can be misused in prediction markets and traced through blockchain records.