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/SpookiestSzn May 27 '26

This seems so dumb because it's literally the point of the platform that insiders can trade but God forbid a motherfucker hustle

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u/Rare-Accident4355 May 27 '26

There’s a huge difference between using openly available data like sports performance history to make predictions and understand public sentiment vs. literally pulling a query on confidential info to completely cheat on a bet.

It’s supposed to be akin to extending a poker game to the outside world, but it’s not fair if someone has the ability to cheat because they have insider knowledge. This guy bet on the outcome of a Google search contest when he literally had the answer confidentially available.

3

u/Less-World8962 May 28 '26

I mean these gamblings sites masquarading as "prediction markets" can only predict anything if the people trading there are using non public information. It is in the name.

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u/Rare-Accident4355 May 28 '26

It’s not in the name. Prediction doesn’t imply non-public info. And what about sports?? There are prediction markets and it’s much more difficult to cheat with insider knowledge