Google Employee Charged Over Alleged Use of Confidential Search Data for Polymarket Bets

A Google employee has been charged by U.S. federal prosecutors for allegedly using confidential internal company data to make more than $1.2 million through trades on prediction market platform Polymarket, according to a criminal complaint unsealed in New York.

Authorities identified the employee as Michele Spagnuolo, a 36-year-old Italian citizen who resides in Switzerland and has worked at Google since 2014. Prosecutors allege that he accessed confidential internal search-trend information and used it to place wagers on Polymarket under the online alias “AlphaRaccoon.”

According to the complaint, Spagnuolo allegedly used non-public data related to Google’s “Year in Search” rankings before the information became publicly available. Investigators claim the data gave him an advantage in prediction markets tied to which public figures would appear among Google’s most-searched names. Prosecutors allege that he placed approximately $2.7 million in bets and generated more than $1.2 million in profits.

Federal authorities have charged him with commodities fraud, wire fraud, and money laundering. He was arrested in New York and later released on a $2.25 million bond pending further legal proceedings.

Google said it is cooperating with law enforcement authorities in the investigation. The company stated that while the internal tool involved was accessible to employees, using confidential company information for personal financial gain violated its policies. The employee has been placed on leave.

The case has drawn attention to growing regulatory scrutiny around prediction markets and the potential misuse of non-public information. Prosecutors described the allegations as a form of insider trading involving confidential corporate data used to influence financial outcomes on a betting platform.

The investigation is also one of several recent federal cases examining trading activity on prediction-market platforms, as regulators and law-enforcement agencies increase oversight of emerging digital wagering and forecasting markets.