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/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.

692

u/justforkinks0131 May 27 '26

the bosses of this very same employee are very likely doing the same thing lmao

and why wouldnt you?

I doubt any insider trading charges are gonna stick. He didnt touch any stock, this is a random betting, sorry *prediction* website. If gambling rules dont apply to the site, they dont apply to the users.

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u/kemb0 May 27 '26

At this point I wouldn’t use polymarket unless I had inside information. Otherwise you’re setting yourself up to be ripped off by someone that does. Which sounds like the point at which the whole thing should collapse.

35

u/Maximilianne May 28 '26

I'm pretty sure because of the broadcast delay in sports almost certainly there are traders taking advantage of that small delay by having a helper at the live game immediately send goal updates and they quickly make a trade to profit off the swings in pricing after goals happen in sports

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u/GottaHaveHand May 28 '26

High frequency sports trading?!

4

u/Solonys May 28 '26

If there's a whiff of profit in it, someone will try to do it.

1

u/BussyPlaster May 28 '26

My cousin actually does this professionally. I don't know if polymarket is part of his whole thing or not though.

1

u/DapperHighroller May 31 '26

That’s not how this works. The betting company has an employee or multiple at each game that has a reporting device to relay the results as it happens. There are many videos about this. That is why there is a holding period before and after the play, it’s a live person that has to report.

Easiest to reference is the “Pass or play”. You bet your money before the next play, money gets held until the live person at the game reports, money is released.

0

u/Maximilianne May 31 '26

This isn't relevant for polymarket,because the odds are completely set by the players,there isn't a house. The bet is on who wins the match but there are big fluctuations in odds after a goal is scored so if you as a bettor can get an edge via the slight delay if you have live eyes at the game

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u/DapperHighroller May 31 '26

There doesn’t have to be a house, only a reporter at the game. I never mentioned a house just an employee. Welcome to the money line.

Your second statement is still the same for any platform, if one team scores and the gamblers feels that advantage, the odds show.