A Google employee has been accused of illegally using confidential company information to make more than $1 million through bets placed on prediction platform Polymarket, according to a criminal complaint unsealed in New York.
Federal prosecutors alleged that Michele Spagnuolo, a 36-year-old information- security engineer at Google, accessed sensitive internal data related to user search trends and used that information to predict outcomes on the betting platform. Authorities claim the data gave him a major advantage while placing wagers linked to Google search activity.
Investigators said Spagnuolo exploited access available through internal company systems and repeatedly used non-public information for personal financial gain. The complaint described the activity as a misuse of confidential corporate material.
Spagnuolo, an Italian citizen, was arrested in New York on Wednesday. He briefly appeared before a federal magistrate judge and was later released on a bond worth $2.25 million. The bail package includes $1 million in cash security, with a portion required to be deposited immediately.
He now faces multiple charges, including commodities fraud, wire fraud and money laundering.
Google said it is cooperating with law- enforcement agencies in the investigation. The company also stated that while the tool used to access the information was available internally to employees, using confidential data for betting purposes violated company policy. The employee has reportedly been placed on leave pending further action.
The case marks the second major investigation this year involving Polymarket by federal prosecutors in New York. Earlier, a US Special Forces soldier was charged for allegedly placing bets connected to a failed operation in Venezuela while having prior knowledge of the mission.
