Aggregator

US Charges Google Employee With Pocketing Millions From Insider Trading Bets On Polymarket

Authored by Stephen Katte via CoinTelegraph.com,

US authorities have charged a Google employee with allegedly using information from the company to make bets on Polymarket and profit $1.2 million.

The Justice Department said on Wednesday that it unsealed charges against Google software engineer Michele Spagnuolo, accusing him of accessing unreleased internal information at Google and placing 25 bets worth $2.7 million on markets related to the most searched individuals on Google in 2025.

Prosecutors said Spagnuolo owned the Polymarket account “AlphaRaccoon”, which profited $1.2 million on “outcomes that the market treated as unlikely” when Google published information on the most searched individuals in December.

The Commodity Futures Trading Commission filed a twin complaint against Spagnuolo on Wednesday, making similar allegations of insider trading.

Prediction markets are facing growing scrutiny over insider trading, with Congress launching a probe into Polymarket and Kalshi on Friday, questioning the companies’ response to incidents of insider trading on the platform, with lawmakers concerned that government officials are using insider knowledge to make bets.

Manhattan US District Attorney Jay Clayton said in a statement that the charges “reinforce a decades-old message: Corporate insiders cannot use confidential business information to turn a profit in our markets.”

Source: US Attorney Southern District of New York 

AlphaRaccoon account allegedly changed name 

According to the court documents, communities on Discord and X started discussing the possibility that AlphaRaccoon was a Google insider in December. Soon after, the username was allegedly changed to a wallet address.

Prosecutors alleged that the funds in the AlphaRaccoon account were also sent to a decentralized crypto swapping service and to an unnamed transfer service that offers privacy protection for blockchain transactions

The Justice Department charged Spagnuolo with commodities fraud, wire fraud and money laundering, and could face a maximum sentence of 50 years in prison.

In its complaint, the CFTC seeks restitution, disgorgement, civil monetary penalties and trading and registration bans. 

CFTC Director of Enforcement David Miller said in a statement that “the division is a cop on the beat in policing the illegal use of inside information in the prediction markets and other markets within the CFTC’s jurisdiction.”

Source: CFTC

“We will continue to take action to protect markets from insider trading and other forms of fraud, abuse and manipulation,” Miller added.

It comes after the Justice Department charged a US soldier in April with using classified information to place bets on the US capture of former Venezuelan President Nicolás Maduro.

Tyler Durden Thu, 05/28/2026 - 09:50

Jannik Sinner is stunningly out of the 2026 French Open in the second around after one of the all-time collapses in sports.

The first Manhattanhenge of 2026 returns this week to New York City.

The famous exes, who also co-parent Seraphina and Samuel, were all smiles helping their eldest child after she seemingly suffered an injury.

The famous exes, who also co-parent Seraphina and Samuel, were all smiles helping their eldest child after she seemingly suffered an injury.

New England Patriots quarterback Drake Maye was in disbelief when he was asked about his thickness during a press conference Wednesday.

The four-year old “AI on the Lot” conference put on by LA-based group AI LA turned into the Amazon MGM show this week. Not only was the conference welcomed onto the tech giant’s Culver City-based studio lot — (we were told last year’s conference was relegated to the Culver Theater, owned by Amazon, but outside...

There was some real romance behind the scenes of Netflix's upcoming film “Positano," we hear. 

Did a top NBCUniversal executive orchestrate an alleged smear campaign against former “Real Housewives of New York” Leah McSweeney?

The makers of a high-end "penis cream" are accusing Brad Pitt of being a d--k by changing the name of his own skincare line to something allegedly similar.

On the latest episode of the Dodgers Post podcast, California Post baseball writers Dylan Hernandez and Jack Harris break down Ohtani’s latest start.

Dozens of former federal judges have demanded a court reopen President Trump's lawsuit against the IRS that his team settled to create a controversial $1.776 billion anti-weaponization fund.

"I've been crying for two months," she admitted on "Jimmy Kimmel Live" Wednesday night.

"I've been crying for two months," she admitted on "Jimmy Kimmel Live" Wednesday night.

Tony Blair Calls For UK To Get Closer To Trump And Ease Climate Change Targets

Authored by Rachel Roberts via The Epoch Times,

Former British Prime Minister Tony Blair, who led the Labour Party to three election victories, said the government should repair its relationship with the United States rather than look to rejoin the European Union.

Blair, who remains a deeply divisive figure within the party, published an essay on Tuesday amid a crisis engulfing Prime Minister Keir Starmer, with a leadership challenge widely expected by September.

The influential former premier, who took the UK into the Iraq War in 2003 based on what an official UK inquiry later concluded was faulty intelligence, wrote that Starmer should not have prevented Washington from using British bases in the United States and Israel’s ongoing war with Iran.

“The initial request was simply for the use of our military bases for the refuelling of American planes. I understand the reasons for refusal but it’s not the best way to treat our ally,” Blair wrote, arguing this decision had made the UK’s partnership with the United States “weaker.”

America’s ‘Staunchest Supporter’

He wrote: “I know how hard it is to be an ally of the USA. We were its staunchest supporter post 9/11. We went through Afghanistan and Iraq together. But it mattered deeply to America and so it mattered to us also. America remains the indispensable core of Britain’s security alliance. But staying with it means even when it is difficult or unpopular.”

Blair argued for the government to smooth relations with U.S. President Donald Trump, who has been critical of Starmer over immigration and free speech issues as well as his decision not to back military action in Iran.

Polling in the UK suggests that while Starmer is personally unpopular as PM, most Brits back his decision not to involve the country in the war.

Blair also criticized cuts to international aid, which he said had weakened Britain’s influence on the global stage, including for the purpose of EU negotiations.

Known for his staunchly pro-European Union views, Blair said that Labour must resist reversing or weakening Brexit to please those within the party who view it as an economic disaster.

Likely Labour leadership contender Wes Streeting has made clear his desire to see the UK back in the EU “one day,” while another possible contender, Andy Burnham, has made similar musings in the past.

Blair was ​the party’s longest-serving premier, holding office between 1997 and 2007, and transforming the party from one with a traditional working-class voter base through his centrist “New Labour” ideological vision.

Starmer is currently being circled by party rivals after Labour’s disastrous results at the recent local elections, largely at the hands of Nigel Farage’s populist Reform UK, but also losing votes to the left-wing Green Party.

The former premier, who published the 5,600-word essay for his influential think tank, the Tony Blair Institute for Global Change, said the government should dial down its net zero commitment, intended to combat climate change.

Britain's Prime Minister Keir Starmer speaks to small business owners during a visit to Home Cafe and Kitchen in London, on May 18, 2026 Yui Mok/Pool Photo via AP

‘Cheap’ Over ‘Clean’ Energy

Blair backed the UK making the most of its resources to address the ongoing energy crisis, writing: “We must prioritise cheaper energy and electrification over net zero and use what is left of our North Sea oil and gas resources.

“At a minimum, the government should try to limit the effect of the changes made and, as we have argued consistently, remove those parts of the net-zero agenda which prioritise clean energy over cheaper energy; and from now on make sure the actions match the words on growth.”

Blair urged Labour, which won the last national election by a landslide in July 2024, to concentrate on policy to improve its standings in the opinion polls, as Starmer battles some of the lowest approval ratings historically of any leader.

“The government’s principal problem isn’t Keir’s personality. Or a ​failure to communicate ‘our achievements’. Or a need to assert more strongly Labour’s ’values’,” Blair wrote.

“Whether there is a ‌leadership change ⁠or not is irrelevant if it doesn’t start with a policy debate.”

Blair, who swept to power with his own landslide in 1997 following 18 years of Conservative rule, appeared to take aim at both Streeting and Burnham in his polemic.

Burnham, the current Mayor of Greater Manchester, who needs to win an upcoming by-election in order to return to national level politics before he can mount a challenge, is regarded as being on the so-called “soft left” of the party.

Streeting, who recently quit as health secretary, is considered further to the right. Streeting has been described by others as a Blairite but rejects the label.

Polling shows the party members prefer Burnham, a more experienced politician, who served as a junior minister in Blair’s government, and that he would defeat Starmer in a head-to-head leadership contest, whereas the prime minister would win in a one-on-one with Streeting.

Blair argued against both Streeting and Burnham’s mooted solutions to Britain’s various problems—either an attempt to rejoin the EU or a shift to the left.

The Labour mayor of Greater Manchester, Andy Burnham, on a morning run in Manchester, England, on May 18, 2026. Jon Super/AP Photo

De-Brexit ‘Not the Answer’

“It is one thing when in opposition to indulge this perennial delusion that when we lose seats to the ​right the country is really signalling it wants Labour to move ​left; it ⁠is dangerous to do it in government,” he wrote.

“Just as Brexit was never the answer to Britain’s challenges back in 2016, reversing it isn’t the answer to the country’s far worse ⁠situation in ​2026.”

Blair wrote that the government should instead try to forge “a structured, formal relationship” with the EU—akin to Starmer’s stated ambitions for closer ties with the bloc while stopping short of an attempt to rejoin.

Blair suggested it was a mistake for Labour to remove Starmer as leader, writing: “The Labour party is playing with fire; or, more accurately with its future, and that of the country.”

“Trying to force the prime minister out, before we know what policy direction we’re bringing in, is not a serious way of conducting ourselves.”

Blair said there are two “epochal changes” happening in the world today—one geopolitical, with the rise of China and India, and the other technological, through artificial intelligence, with Britain “not prepared for either.”

‘The Radical Centre’

He said that these two shifts “require radical change in policy, system of government and politics,” and that in his view, the best political position from which this could be achieved is what he terms “the Radical Centre.”

“[Any renewal of Britain] requires a fundamental reset,” he wrote. “Labour’s only ​electorally viable strategy is to become the Radical Centre.”

Blair said there is “no point in debating“ whether the AI revolution ”is a good or bad thing.”

“Just know it is a ‘thing’. In fact, it is ‘the thing’. It will displace jobs, though creating new ones, but no one yet knows the full consequence,” he wrote.

Under a subsection entitled, “The New World Order,” Blair said he understood Europe’s anxiety over Trump’s “America First” policies, but countered that the U.S. president has identified “the principal threats—in the Arctic from Russia; longer term, globally, from China; and in the Middle East from Iran—no differently from how Europe sees the world.”

“President Trump has demanded increases in NATO spending not dissolution of the alliance,” Blair added.

He said that Starmer had been “absolutely right” to visit China in January because “we need a functioning relationship with the other superpower.”

The wide-ranging essay sparked much commentary and debate within the UK media, with criticism coming mainly from the left faction of the Labour Party. Starmer has made no public response so far.

Burnham, who will contest the Makerfield by-election in the northwest of England on June 18, told the Observer that Blair had misunderstood why voters had abandoned the political center in the first place.

Burnham said Blair’s essay “doesn’t mention inequality once” and argued that 40 years of widening inequality and declining living standards for many people were the driving reasons for voters turning away from the two main parties.

“If you don’t get how that’s driving politics now, if you are not rooting your analysis in the fact that people are unable to live and that things that were taken for granted are no longer affordable, then you are not understanding what’s going on,” Burnham said.

Tyler Durden Thu, 05/28/2026 - 09:15

Tyrese Haliburton can't hear Knicks fans.

What do they do when the proverbial best player available isn’t the best athlete? Or the best fit?

Los Angeles elections are being flooded with cash from a handful of far-left billionaire donors.

Netflix's newest reality show promises drama and glamour.

In a 162-game season, one night to the next doesn’t present much variation for oddmakers.   It’s why starting pitching is the single most influential variable in baseball betting. There’s a select few arms, however, who can singlehandedly vault their team from underdogs to favorites.  Among that group, even the most casual sports fan wouldn’t be...