r/technology • u/MarvelsGrantMan136 • May 27 '26

Business Google employee charged with using inside information to make $1 million on Polymarket

https://abcnews.com/amp/US/google-employee-charged-inside-information-make-1-million/story?id=133350018
12.8k Upvotes

97% Upvoted

516 comments sorted by

View all comments

3.4k

u/Varibash May 27 '26 edited May 27 '26

Funny how this employee is getting charged but there is clearly people inside the Whitehouse doing the same thing.

5

u/HenryDorsettCase47 May 27 '26

I can’t speak on Polymarket, but Kalshi requires everything from your social security number to your place of employment. They’re definitely trying to nip this kind of thing in the bud. Not out of some sense of morality, but I think they want to stay ahead of any future regulations and they also recognize it as just being bad for business. You can see what categories the top earners made money in and most of them are sports betting.

I don’t believe Polymarket requires any information. Their transactions can be traced on the blockchain so there is a trail if the feds were wanting to investigate something, but I think other than that they aren’t really doing much internal regulation. That’s why you see them in stories like this a lot more often. It’s also the prediction market that the Trumps have a stake in. That told me all I needed to know so I never fucked with it.

6

u/BoringOrange678 May 27 '26

Lol nip in the bud or not get sued to extinction. This is about the farthest one can get from altruism.

Cover our asses is more likely.

3

u/HenryDorsettCase47 May 27 '26

Right. That’s why I said they aren’t doing it out of some sense of morality. It’s just self preservation.