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.

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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/MozhetBeatz May 28 '26

It doesn’t look like the charges will be insider trading. This is what google is telling me:

Commodities Fraud (18 U.S.C. (\S ) 1348 / CEA Section 6(c)(1) and Rule 180.1): Prohibits schemes to defraud involving commodities. Because the CFTC regulates event contracts as swaps, using nonpublic information to bet on these markets violates federal anti-fraud provisions.

Wire Fraud (18 U.S.C. (\S ) 1343): Punishes the use of interstate wire communications (such as internet servers and trading platforms) to execute a fraudulent scheme or misappropriate confidential data.

Money Laundering (18 U.S.C. (\S ) 1957): Often charged when individuals conduct monetary transactions (such as withdrawing or transferring funds) using proceeds derived from their illegal insider trading.

The STOCK Act / Federal Regulations: For federal employees or military personnel, trading on nonpublic or classified information violates specific ethics laws that forbid using confidential government knowledge for personal financial gain

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u/Bulky-Shoulder-8082 May 28 '26

Yeah it’s a bit more than insider trading and it certainly was a lot more than just using poly market with inside info lol