Google Engineer Denies Insider Trading on Polymarket, Claims It Was Gambling

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Michele Spagnuolo, a Google engineer based in Switzerland, has been arrested on charges of alleged insider trading on Polymarket, a prediction markets platform. Spagnuolo denies the accusations, stating that his activity on the platform constituted gambling rather than trading. His defense hinges on the argument that gambling falls outside the jurisdiction of US commodities law. The case raises broader legal questions about how prediction market activity should be classified and regulated under existing US law.

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