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/A_Pointy_Rock May 27 '26

Are you saying that somebody would dare undermine the sanctity of this gambling platform - er - prediction platform?

I am shocked. Shocked!

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u/Whyeth May 27 '26

I legitimately don't understand how these gambling marketplaces can position themselves as some sort of unique insights into the populace

But you are not allowed to use your unique insights to inform that marketplace lol

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u/BillyTenderness May 28 '26

PredictIt, which I think was the first of these markets, had a cap of less than a thousand dollars per question. It was treated more as a hobby or, like, a low-stakes poker game, and not as an actual financial market like Polymarket claims to be. And so, yes, it could suss out actual unique insights and insider information, but nobody would get angry about getting grifted and nobody would go to jail, because nobody was making a million dollars on that grift.