A Google security engineer was charged with insider trading after winning $1.2 million using confidential company data to place bets on the cryptocurrency-based Polymarket decentralized prediction market.

36-year-old Michele Spagnuolo, an Italian citizen residing in Switzerland and a Google employee since 2014, appeared on Wednesday in the Southern District of New York.

In parallel, the Commodity Futures Trading Commission (CFTC) filed a separate civil complaint the same day, seeking restitution, disgorgement, civil monetary penalties, and trading and registration bans.