India, May 28 -- A software engineer at Google, under Alphabet Inc. (GOOG), has been arrested and is facing charges in the U.S. for allegedly using insider info to make profitable bets on the prediction market platform Polymarket.
Federal prosecutors in New York revealed that Michele Spagnuolo, an Italian national residing in Switzerland, leveraged internal Google data to execute trades that earned him about $1.2 million in profit. They claim he placed roughly $2.7 million in bets on Google-related prediction markets from October to December 2025.
Court documents suggest that Spagnuolo accessed confidential marketing and search trend data through internal Google tools meant for employee use, allowing him to make some very successful bets....