Federal prosecutors on Wednesday charged a Google employee with insider trading on Polymarket. The complaint was filed in the Southern District of New York.
The employee, identified as Italian, faces federal charges in the United States. Prosecutors accused the individual of using company information to make money on Polymarket, a prediction market platform.
According to CNBC, the insider trading case involved a bet of approximately $1 million related to a search term. The employee allegedly leveraged internal Google data to inform the wager.
The complaint from the Southern District of New York comes just over a month after another insider trading case on Polymarket, CNBC reported.
The Washington Times reported that the Italian Google employee is facing federal charges for insider trading, accused of using company information to make money on the platform.
The Hill confirmed that federal prosecutors charged a Google employee with insider trading on Wednesday.
The case remains ongoing in federal court.
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