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Federal prosecutors have charged a Google employee with fraud, alleging that he made $1.2m from bets on Polymarket that used insider information. Michele Spagnuolo, an Italian citizen, has been charged with money laundering, commodities fraud and wire fraud, according to the complaint filed in the Southern District of New York. “Spagnuolo had access to Google’s internal data systems, including a particular Google internal software tool that provided him access to confidential, nonpublic Year in Search data,” the prosecutors said in their complaint. “Google officially and publicly announced its Year in Search 2025 results on or about December 4, 2025. Soon after it did so, Spagnuolo’s AlphaRaccoon account profited approximately $1.2m on his Google Year in Search 2025-related bets,” the complaint said. A Google spokesperson, responding to the charges against Spagnuolo, said: "Using such confidential information to place bets is a serious breach of our policies. We've placed the employee on leave and will take the appropriate action."
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