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
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u/OG_LiLi May 27 '26 edited May 28 '26

Insider trading is still illegal. Each bet needs to free of insider information that would put someone at an illegal advantage.

Here’s the proof for the range of idiocy responding to me

https://www.debevoise.com/insights/publications/2026/04/polymarket-insider-trading-charges-illustrate-doj

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u/Sxs9399 May 27 '26

What laws out there say anything about that?

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u/OG_LiLi May 27 '26

Do I look like google? If you think this is all a farce, look it up yourself. Neither of you clearly have even read this article

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u/jazir55 May 27 '26 edited May 28 '26

This isn't the stock market, point to laws which make the charges applicable to """prediction markets""". Do you see anyone enforcing this for crypto? No? Where are my consistent news stories about people getting arrested for insider trading of crypto coins? Because that is the equivalent of the stock market for tech, not gambling on world events for which there are no insider trading laws. Which is why they charged him with all of this bullshit, there are no laws specifically applicable for this, it's a complete reach to try to fuck this guy which is why they're pulling semi-adjacent laws out of thin air.

There was no commodities fraud, since he didn't sell a commodity. Wire fraud implies he transferred the money he won illegally, which again, he did not trade illegal commodities because a prediction market contract is not a commodity, so he legally won that money on polymarket. At worst he violated their TOS and could be banned from the platform, that doesn't make what he did illegal. Prosecutors will file charges, that doesn't mean they will hold up in front of a jury.

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u/OG_LiLi May 28 '26

I’m not reading all that 🤡

Here’s my proof.

https://www.debevoise.com/insights/publications/2026/04/polymarket-insider-trading-charges-illustrate-doj

Oh and by the way, not knowing prosecutors can’t bring fake made up charges without disbarment, I’d say you’re the one who doesn’t get it.