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According to an announcement from the U.S. Department of Justice (DOJ), Google software engineer Michele Spagnuolo has been charged with commodity fraud, wire fraud, and money laundering. Prosecutors allege that he used non-public internal search data from Google to place bets on markets related to Google's annual search rankings through the Polymarket account "AlphaRaccoon," profiting over $1.2 million in 2025. The DOJ accuses him of possessing insider information unknown to the public at the time of trading and using that information to conduct prediction market transactions.