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Market Impact: 0.3
Google Engineer Accused of Polymarket Insider Trading Says He Was Just ‘Gambling’
Source: WIRED
Legal & LitigationCrypto & Digital AssetsRegulation & LegislationInsider Transactions
Michele Spagnuolo was arrested over alleged insider trading tied to Polymarket, while he claims the activity was merely gambling outside US law. The arrest increases regulatory and legal risk for Polymarket/related crypto prediction markets, which could pressure sentiment and limit participation. Net impact is likely confined to the company/segment rather than the broader market.
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