Federal authorities charged Google software engineer Michele Spagnuolo with commodities fraud, wire fraud, and money laundering. Spagnuolo allegedly used confidential company data to place bets on the prediction market Polymarket. He accessed non-public information from Google’s 2025 Year in Search report to predict trending topics.
Operating under the alias AlphaRaccoon, Spagnuolo allegedly wagered approximately $2.7 million. These trades generated roughly $1.2 million in unlawful profits.
The U.S. Attorney for the Southern District of New York announced the criminal charges. The Commodity Futures Trading Commission filed a parallel civil complaint. Google placed Spagnuolo on leave and is cooperating with the investigation.