The U.S. Justice Department charged Google software engineer Michele Spagnuolo with insider trading, alleging the employee made $1.2 million trading on Polymarket based on confidential business information. Spagnuolo, who used the name “AlphaRaccoon” on Polymarket, has worked at Google for over 12 years, according to information on LinkedIn. “As alleged, Spagnuolo violated the duties he owed to his employer and used Google’s confidential business information to make more than $1.2 million in trading profits on Polymarket,” Jay Clayton, the United States Attorney for the Southern District of New York, said in a press release. “Insider trading compromises the integrity of our markets, and the American people want this greed-driven conduct investigated and prosecuted.” Prediction markets like Polymarket, Kalshi, and others allow users to bet on pretty much anything. Insider trading is not allowed on these platforms because it’s illegal, but some users still commit the offense. The Justice Department recently charged a U.S. Army soldier for allegedly using his insider knowledge of the U.S. military operation to capture Venezuelan president Nicolás Maduro to make $400,000 …