Google Engineer Accused of Polymarket Insider Trading Says He Was Just Gambling
Michele Spagnuolo was arrested for alleged insider trading on Polymarket, but the Switzerland-based engineer says he was simply gambling, activity that is beyond the reach of US law.
Michele Spagnuolo, a Google engineer arrested in May for alleged insider trading on Polymarket, is challenging the charges against him in court. His legal team argues that the wagers he made using internal Google information were not subject to US commodities regulations, but rather were international betting. Spagnuolo, who won over $1.2 million from his Polymarket wagers, was accused of commodities fraud, wire fraud, and money laundering. The extraterritorial defense is raising questions about US jurisdiction over the case.
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