Google employee charged with $1M Polymarket insider trading bet on search term
1–10 of 234 posts
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#2Anyone could have run the list of candidate names from the bets through google trends right?
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#3That's aweful, only senators should be allowed to do that!
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#4Forbes flagged this account back in December and it still took prosecutors months to charge him.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#5Of course he should be punished but the best lesson here is for bettors. Those who wager on "prediction markets": you are betting against people who have access to more information or can influence the outcome of the wager. Don't waste your money.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#6Of course he should be punished but the best lesson here is for bettors. Those who wager on "prediction markets": you are betting against people who have access to more information or can influence the outcome of the wager. Don't waste your money.
The real money is in providing liquidity if you don't have insider knowledge.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#7So now the real bet he lost is salary + time for all those years he is going to prision + lower job for decades after prison. This person bet Millions to get $1M basically and lost both, very rare gambling level lost from smart(used to) person. At least normal gambler loses what they have and some debt.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#8Of course he should be punished but the best lesson here is for bettors. Those who wager on "prediction markets": you are betting against people who have access to more information or can influence the outcome of the wager. Don't waste your money.
The real money is in providing liquidity if you don't have insider knowledge.
Well you either get XKCD 1570 or Jane Street.
Not much in between. The efficient market hypothesis claims many victims.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#9Of course he should be punished but the best lesson here is for bettors. Those who wager on "prediction markets": you are betting against people who have access to more information or can influence the outcome of the wager. Don't waste your money.
This is true of all markets.
Re: Google employee charged with $1M Polymarket insider trading bet on search term
#10Anderson Cooper: But predictive markets do rely on someone having some inside information.
Shayne Coplan: Uh-huh. Yeah. I think that people going and having an edge to the market is a good thing. Obviously, you need to curate them and you need to be really clear and stringent on where the line is drawn and, like, sort of ethics and we spend a lot of time on that. But it's sort of an inevitability that this will happen, and there's a lot of benefits from it. And, you know, people will adapt.
[1] https://www.cbsnews.com/news/polymarket-ceo-shayne-coplan-on...