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CFTC Charges Google Employee with Insider Trading in Prediction Markets
The CFTC has filed a complaint against a Google employee for insider trading involving prediction market contracts on Polymarket.com, generating substantial profits from nonpublic information.
The Commodity Futures Trading Commission (CFTC) announced it has filed a lawsuit in the U.S. District Court for the Southern District of New York against Michele Spagnuolo, a Swiss resident and former Google software engineer. The complaint alleges that Spagnuolo used confidential nonpublic information about Google's 'Year in Search' list for 2025 to trade on Polymarket.com, a prediction market platform. During his employment at Google, Spagnuolo gained access to sensitive information about the company's upcoming search trends and used this knowledge to make profitable trades. Between October and December 2025, he bought contracts related to Google's top search topics with near-perfect accuracy, earning approximately $1.2 million. The CFTC seeks penalties, restitution, and bans on trading for Spagnuolo. The case highlights ongoing efforts by regulators to combat insider trading in crypto-related prediction markets, emphasizing the importance of market integrity and the enforcement of securities laws in digital asset spaces.
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