Engineer's Defense: Polymarket Bets Are Gambling, Not Regulated Swaps
Michele Spagnuolo, a Google engineer, has filed a motion to dismiss charges of insider trading on Polymarket, claiming his wagers were simple gambling rather than regulated financial contracts. His legal team argues that the US Commodities Exchange Act does not cover such bets. The case highlights the ongoing legal battle over the classification of prediction market contracts.
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Original headline: “Google Engineer Accused of Polymarket Insider Trading Says He Was Just Gambling.” Browse more stories.