
Chad Silverman
Partner at Skadden in Government Enforcement & White Collar Crime Group; former senior trial attorney at the CFTC specializing in enforcement matters involving commodities, derivatives, and digital assets.
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Jul 27, 2026
Prediction Markets: A New Enforcement Priority
9:09
9:19
9:38
10:03

Chad SilvermanGUEST
Yeah, you know, there was another case that came out involving an employee of a tech company who also allegedly misappropriated information from his company and then traded on that information.

Chad SilvermanGUEST
The individual's name was Michael Spagnolo, and he was a software engineer that had access to confidential data regarding the year in search, which is proprietary trending search results that They're usually kept completely confidential until that information is released.

Chad SilvermanGUEST
And Polymarket had some markets with regard to that, such as, will Kendrick Lamar be the number one search person this year? So allegedly Spagnuolo accessed some internal information regarding whether Kendrick Lamar would be the number one search person that year and invested approximately $2.75 million across 25 different contracts like that.

Chad SilvermanGUEST
no on some contracts when he knew that the individual wouldn't be the one who was number one and voted yes on other contracts.
A
10:49Andrew GoodHOST
is from these cases for corporates that are looking at how to ensure compliance going forward?