May 28
Google Engineer “AlphaRaccoon” Charged in Insider Trading on Polymarket
➤ A Google engineer, Michele Spagnuolo (aka "AlphaRaccoon"), has been charged with insider trading for allegedly using confidential Google search data to make over $1.2 million in profitable bets on the crypto prediction platform Polymarket. ➤ Prosecutors allege Spagnuolo accessed internal Google systems to gain an unfair advantage before the release of 'Year in Search' rankings and attempted to conceal his crypto profits through token swaps. ➤ The case highlights increasing regulatory scrutiny on prediction markets and crypto-based event trading, with authorities like the CFTC vowing to crack down on market misconduct.
