A former Google software Engineer, Michele Spagnuolo, got arrested and charged by the Feds in New York for wire fraud, insider trading, and a laundry list of financial crimes for using his position as a software engineer at Google to make crooked bets on Polymarket.

The boys dive into the ongoing legal saga surrounding prediction markets and financial regulations in the United States, and make a long-term bet that this is still going to all wind up in the Supreme Court. But ol’ Michele’s going to jail.

What’s your take on the future of prediction markets? Will they be state, or federally regulated?

If you enjoyed the episode, restack, share it, and let us know. We sincerely appreciate it!

All the best from both of us On the Fringe,

Dave and Gav

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit onthefringepodcast.substack.com/subscribe