coin-img-ETHETH+0.12%coin-img-BTCBTC+0.32%coin-img-SOLSOL-0.15%coin-img-XRPXRP+0.24%coin-img-HYPEHYPE+9.19%coin-img-USDCUSDC-0.02%coin-img-TRXTRX-2.41%coin-img-TONCOINTONCOIN-0.56%coin-img-ETHETH+0.12%coin-img-BTCBTC+0.32%coin-img-SOLSOL-0.15%coin-img-XRPXRP+0.24%coin-img-HYPEHYPE+9.19%coin-img-USDCUSDC-0.02%coin-img-TRXTRX-2.41%coin-img-TONCOINTONCOIN-0.56%coin-img-ETHETH+0.12%coin-img-BTCBTC+0.32%coin-img-SOLSOL-0.15%coin-img-XRPXRP+0.24%coin-img-HYPEHYPE+9.19%coin-img-USDCUSDC-0.02%coin-img-TRXTRX-2.41%coin-img-TONCOINTONCOIN-0.56%coin-img-ETHETH+0.12%coin-img-BTCBTC+0.32%coin-img-SOLSOL-0.15%coin-img-XRPXRP+0.24%coin-img-HYPEHYPE+9.19%coin-img-USDCUSDC-0.02%coin-img-TRXTRX-2.41%coin-img-TONCOINTONCOIN-0.56%
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Alexander Covtun

CFTC Sues Google Engineer Over Polymarket Trades, Citing $1.2M Profit

On May 27, 2026, the CFTC filed a civil enforcement action against Google software engineer Michele Spagnuolo, alleging he used nonpublic Google search-trend data to trade Polymarket event contracts. The complaint says he earned about $1.2 million and that the agency is seeking restitution, disgorgement, monetary penalties, bans, and a permanent injunction. The filing also describes how Polymarket runs on Polygon and settles outcomes via the UMA Oracle, with winning positions redeemable for USDC.e.
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