CFTC Charges Google Employee with Insider Trading on Polymarket Using Search Data

TLDR: Google engineer Michele Spagnuolo allegedly earned $1.2M trading on Polymarket using confidential search data. Spagnuolo traded under the handle “AlphaRaccoon,” placing bets on 23 Google Year in Search event contracts. The CFTC filed a civil complaint seeking penalties, disgorgement, and a permanent ban on Spagnuolo’s trading activities. Federal prosecutors unsealed a parallel criminal complaint [...]

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