Google employee charged with $1M Polymarket insider trading bet on search term

Post by sharts » Sat, May 30, 2026, 11:10 AM UTC

nostrademons wrote: post #11

wyldfire wrote: post #5

Of 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.

That's sort of the point of prediction markets: they surface insider information by allowing people to profit off of it. The benefit is to people watching the prices , who can then use that information to make better decisions ahead of the answer being revealed to the public. It's not necessarily to market participants, who need to be aware of who else is trading the market and have a credible reason to believe they…

Post by DoctorOetker » Tue, Jun 02, 2026, 8:13 AM UTC

awongh wrote: post #218

drewstiff wrote: post #137

Earlier quoted context omitted.

Did you ever consider that the crypto scammers might not be the same people as the crypto freedom folks? It wasn't one grand trick by a collective of genius con artists... Much like the cashier at the store isn't to blame for that guy calling your grandma and trying to trick her into sending money from her bank account.

The real problem is that when it matters there's no way to tell them apart. Because one wants to look like the other for very obvious reasons.