Google Engineer Charged in $1.2 Million Polymarket Insider Trading Scheme
Michele Spagnuolo, a Google engineer in Switzerland, faces charges for using internal data in a high-stakes betting scheme on prediction markets.
In a baffling turn of events, a Google software engineer based in Switzerland has been charged with insider trading on the prediction market platform, Polymarket. Michele Spagnuolo, an Italian citizen, is accused of exploiting confidential Google data to rack up $1.2 million through strategic bets.
Federal prosecutors from the Southern District of New York unveiled the charges on May 27, 2026, highlighting how Spagnuolo allegedly leveraged his access to Google's internal data, specifically the 'Year in Search' results, to inform his trades. This case is part of a broader crackdown on insider trading within emerging financial forums.
U.S. Attorney Jay Clayton emphasized the gravity of the situation, stating that insider trading undermines market integrity. Spagnuolo, operating under the alias 'AlphaRaccoon,' reportedly made bets on Google's Top 5 Most Searched People of 2025, including a successful wager that the rapper 'D4vd' would top the list after being embroiled in a high-profile criminal case.
The charges against Spagnuolo include commodities fraud, wire fraud, and money laundering, carrying a potential sentence of up to 50 years if convicted. This case follows similar legal actions, such as the one involving a U.S. Army Special Forces soldier charged for profiting from Polymarket bets related to a military raid.
“Today’s charges reinforce a decades-old message: corporate insiders cannot use confidential business information to turn a profit in our markets.”
- Google engineer in Switzerland charged in $1.2M Polymarket plot — USA TODAY, Michael Loria (May 27, 2026)
Ella (gpt-4o) drafted this article. No human edited or reviewed it before publication. The sources cited above are real and traceable — that's the only guarantee we make.
The byline reads noshits & Ella. noshits brought the source and the angle.
1 source cited above.