Trending Now - Google Employee Accused of Insider Trading for $1.2M Profit

WHO:

CNN - Michele Spagnuolo, a Google software engineer, is charged.

NPR - Spagnuolo is 36 years old and an Italian citizen living in Switzerland.

NPR - Google spokesperson Jaclyn Vazquez commented on the situation.

WHAT:

TechCrunch - Spagnuolo allegedly placed a bet in October that rapper Kendrick Lamar would top the list, at a time when Google’s internal data showed that Lamar was on track to be the most-searched person of the year.

Business Insider - Spagnuolo created a Polymarket account in 2024 under the username "AlphaRaccoon" and bet about $2,754,000 on markets related to Google's internal information.

NPR - The indictment was unsealed a day after Trump vowed to allow the prediction market industry to "thrive" by asserting federal regulators' "exclusive authority" over the controversial betting sites.

CNN - Spagnuolo allegedly placed a $5 bet that d4vd would be the number one searched person, with an implied probability of “slightly higher than 0%.”

NPR - Spagnuolo placed a bet of nearly $1 million that Bianca Censori would not be the most-Googled person.

NPR - Spagnuolo also bet $613,000 that Pope Leo XIV would not be the most searched person.

TechCrunch - Spagnuolo risked over $2.7 million on wagers related to Google's 2025 Year in Search campaign.

CNN - Authorities allege that Spagnuolo made over $1.2 million in profits when Google announced the most searched results.

NPR - Spagnuolo placed bets totaling $2.7 million on 25 separate outcomes related to Google's internal information.

Business Insider - A New York district attorney, Jay Clayton, stated that Spagnuolo used confidential business information to make "more than $1.2 million in trading profits on Polymarket."

TechCrunch - Spagnuolo risked over $2.7 million on wagers related to Google's 2025 Year in Search campaign.

CNN - Google stated that Spagnuolo has been placed on leave following the charges.

Business Insider - The charges against Spagnuolo carry a combined maximum sentence of 50 years in prison.

CNN - Spagnuolo is now the second person this year to face criminal charges alleging insider trading on prediction markets.

CNN - A US special forces soldier was charged last month for allegedly using knowledge of a planned military capture of Venezuelan president Nicolás Maduro to place bets on Polymarket, making over $400,000 in profits.

Business Insider - A New York district attorney, Jay Clayton, stated that Spagnuolo used confidential business information to make "more than $1.2 million in trading profits on Polymarket."

Business Insider - The DOJ's charging of Spagnuolo comes as prediction markets are being increasingly scrutinized in the US.

Business Insider - Minnesota recently became the first state to announce a blanket ban on prediction markets, which is set to go into effect in August.

CNN - Spagnuolo allegedly placed a number of wagers on Google's most-searched person of 2025, including a bet of nearly $1 million that Bianca Censori would not be the most-Googled person.

CNN - Authorities allege that Spagnuolo made over $1.2 million in profits when Google announced the most searched results.

Business Insider - Spagnuolo created a Polymarket account in 2024 under the username "AlphaRaccoon."

Business Insider - Spagnuolo bet about $2,754,000 on markets related to Google's internal information.

CNN - Spagnuolo allegedly placed bets totaling $2,754,000 on markets related to Google's internal information between October and December last year.

Business Insider - The charges against Spagnuolo carry a combined maximum sentence of 50 years in prison.

CNN - Spagnuolo was released on a $2.2 million bond with travel restrictions.

CNN - He placed a bet of just over $500,000 that Trump would not be the most searched person.

NPR - The Commodity Futures Trading Commission brought a separate civil case against Spagnuolo for allegedly violating commodities law.

NPR - The indictment was unsealed a day after Trump vowed to allow the prediction market industry to "thrive."

CNN - Spagnuolo is charged with commodities fraud, wire fraud, and money laundering.

CNN - He allegedly made roughly $1.2 million in profits from bets on Polymarket.

NPR - Spagnuolo placed bets totaling $2.7 million on 25 separate outcomes related to Google's 2025 Year in Search campaign.

NPR - He placed a $381.12 bet that d4vd would rank among the most searched people and a $5 bet that d4vd would be the number one searched person.

NPR - He also bet $613,000 that Pope Leo XIV would not be the most searched person and nearly $1 million that Bianca Censori would not be the most Googled person.

WHERE:

CNN - The charges were filed in New York.

NPR - Spagnuolo was arrested in New York.

WHEN:

Business Insider - Minnesota was the first US state to announce a blanket ban on prediction markets, which is set to go into effect in August.

CNN - Spagnuolo appeared in court on Wednesday.

NPR - The indictment was unsealed on the same day as his court appearance.

WHY:

The Guardian - The charges against Spagnuolo are part of a broader boom in the use and misuse of prediction markets, which have grown into a multibillion-dollar industry in recent years.

CNN - Google stated that Spagnuolo accessed marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of company policies.

CNN - Google stated that Spagnuolo has been placed on leave following the charges.

Business Insider - The DOJ's charging of Spagnuolo comes as prediction markets are being increasingly scrutinized in the US.

CNN - Authorities allege Spagnuolo used confidential internal Google data to place bets, giving him an unfair advantage over other traders.

HOW:

ABC News - Kalshi's integrity monitoring office launched more than 200 investigations last year and has already eclipsed that figure in the first quarter of 2026 alone.

NPR - After transferring his winnings, Spagnuolo removed the name AlphaRaccoon from his Polymarket account.

Business Insider - Spagnuolo created a Polymarket account in 2024 under the username "AlphaRaccoon."

NPR - Spagnuolo had access to "confidential trends" within Google, which he may have abused for profit.

TechCrunch - Spagnuolo allegedly used confidential company information to make $1.2 million on Polymarket.

NPR - Spagnuolo transferred his winnings out of his cryptocurrency wallet before removing the name AlphaRaccoon from his Polymarket account.

CNN - Spagnuolo operated under the username "AlphaRaccoon" on Polymarket.

NPR - He accessed Google's confidential, commercially valuable internal data to inform his betting decisions.

NPR - After transferring his winnings, Spagnuolo removed the name AlphaRaccoon from his Polymarket account.

(UPDATED May 28, 2026 23:19 UTC)

In a significant development, an indictment has been unsealed against Spagnuolo, who allegedly placed a bet in October that rapper Kendrick Lamar would top the list of the most-searched people, coinciding with Google's internal data indicating Lamar's strong position. Spagnuolo, operating under the username "AlphaRaccoon," reportedly created a Polymarket account in 2024 and wagered approximately $2,754,000 based on this insider information, amid a growing trend in prediction markets that have become a multibillion-dollar industry. This indictment comes just after Trump expressed his intention to support the prediction market industry by affirming federal regulators' authority over these betting platforms, as Kalshi's integrity monitoring office continues to ramp up its investigations, surpassing 200 cases in the first quarter of 2026 alone.

(UPDATED May 28, 2026 21:34 UTC)

In a stunning turn of events, Spagnuolo has reportedly placed over $2.7 million in bets related to Google's upcoming Year in Search campaign, including a nearly $1 million wager that Bianca Censori would not be the most-Googled person. Google has confirmed that Spagnuolo accessed confidential marketing material, which is a serious violation of company policies, to inform his betting decisions. Following his winnings, he also removed the name AlphaRaccoon from his Polymarket account, raising further questions about his actions.

(UPDATED May 28, 2026 19:48 UTC)

In a significant development, Spagnuolo has been accused of using confidential business information to place over $2.7 million in wagers related to Google's 2025 Year in Search campaign, resulting in more than $1.2 million in profits when the most searched results were announced. Authorities report that he created a Polymarket account in 2024 under the username "AlphaRaccoon" to facilitate these bets, and Google has placed him on leave following the charges. This indictment comes just after Trump expressed his intention to support the prediction market industry by asserting federal regulators' exclusive authority over these betting sites.

(UPDATED May 28, 2026 17:58 UTC)

In a significant development, Spagnuolo has been placed on leave by Google after risking over $2.7 million on wagers tied to the company's 2025 Year in Search campaign. The charges against him carry a combined maximum sentence of 50 years in prison, and he reportedly created a Polymarket account in 2024 under the username "AlphaRaccoon." This indictment comes just a day after Trump expressed his intention to support the prediction market industry by affirming federal regulators' exclusive authority over these betting sites.

(UPDATED May 28, 2026 16:18 UTC)

Spagnuolo has become the second individual this year to face criminal charges for allegedly engaging in insider trading on prediction markets, with New York district attorney Jay Clayton claiming he made over $1.2 million in profits by using confidential business information. This follows a previous case involving a US special forces soldier who reportedly profited more than $400,000 by betting on Polymarket using insider knowledge about a planned military operation against Venezuelan president Nicolás Maduro. As scrutiny of prediction markets increases in the US, Minnesota has announced a blanket ban on these markets, which is set to take effect in August.

(UPDATED May 28, 2026 14:14 UTC)

Authorities have indicted Spagnuolo for allegedly using confidential company information to profit over $1.2 million on Polymarket, where he placed bets on Google's most-searched person of 2025. Notably, he wagered nearly $1 million that Bianca Censori would not take the top spot, while he reportedly bet a total of about $2,754,000 on various markets tied to Google's internal data. This indictment comes just after Trump expressed his support for the prediction market industry, emphasizing the need for federal regulators to oversee these betting platforms.

(UPDATED May 28, 2026 12:04 UTC)

Spagnuolo is facing serious charges after allegedly placing bets totaling $2,754,000 on markets related to Google's internal information between October and December last year, with a combined maximum sentence of 50 years in prison if convicted. This case comes amid growing scrutiny of prediction markets in the U.S., highlighted by Minnesota's announcement of a blanket ban on such markets, which is set to go into effect in August. As the Department of Justice takes action, the future of prediction markets remains uncertain.

(UPDATED May 28, 2026 10:18 UTC)

Spagnuolo has been released on a $2.2 million bond with travel restrictions after placing a bet of just over $500,000 that Trump would not be the most searched person. The Commodity Futures Trading Commission has filed a separate civil case against him for allegedly violating commodities law, and this indictment came just a day after Trump expressed his intention to support the prediction market industry. Additionally, Spagnuolo transferred his winnings out of his cryptocurrency wallet before changing the name AlphaRaccoon on his Polymarket account.

(UPDATED May 28, 2026 08:16 UTC)

Michele Spagnuolo, a 36-year-old Google software engineer and Italian citizen living in Switzerland, has been charged with commodities fraud, wire fraud, and money laundering. Authorities allege that he made approximately $1.2 million in profits from betting on Polymarket, where he placed a total of $2.7 million in bets on 25 outcomes related to Google's 2025 Year in Search campaign. The charges were filed in New York, where Spagnuolo was arrested, and he appeared in court on Wednesday, the same day the indictment was unsealed. It is claimed that he used confidential internal Google data to gain an unfair advantage over other traders while operating under the username "AlphaRaccoon." After transferring his winnings, Spagnuolo removed the name AlphaRaccoon from his Polymarket account.