28.05.2026 14:34
Michele Spagnuolo, a Google employee in the US, has reportedly been taken into custody on allegations that he used early access to confidential company information to trade on the online betting platform Polymarket, earning approximately $1.2 million. The Southern District of New York has filed a case regarding the incident, and Google stated that using company information for betting violates its policies, suspending the employee from duty.
An incident shook the technology and betting world in the USA. Google employee Michele Spagnuolo was accused of betting on the online prediction and betting platform Polymarket by accessing confidential internal company information early.
$1.2 MILLION PROFIT ALLEGATION
According to the BBC, the New York Southern District Prosecutor's Office announced that a formal case has been opened against Michele Spagnuolo.
The prosecutor's office stated that Spagnuolo accessed company information not yet disclosed to the public through his role at Google.
Officials alleged that Spagnuolo used this information to bet on the Polymarket platform and earned approximately $1.2 million.
ALLEGATION OF USING CONFIDENTIAL COMPANY INFORMATION
According to the investigation file, Spagnuolo was accused of conducting transactions based on various technology and market predictions by learning about internal company developments in advance.
Prediction markets and betting platforms, which have grown rapidly in the USA recently, are attracting intense interest, especially in the technology and political worlds.
GOOGLE SUSPENDS EMPLOYEE
In a statement by Google, it was noted that using internal confidential information for betting purposes is clearly against company policies.
The company announced that Michele Spagnuolo has been suspended.
POLYMARKET RECENTLY IN THE SPOTLIGHT
The crypto-based prediction platform Polymarket has recently been in the news with bets placed on elections, technology companies, and global developments.
Regulatory bodies in the USA are closely monitoring the platforms due to the risks of insider trading and market manipulation.
INVESTIGATION DEEPENS
Prosecutor's office sources stated that the investigation into the matter is ongoing and that other individuals may also be under review.