Yes, Insomniac's Spider-Man and upcoming Wolverine are set in the same universe
But no word on whether Peter or Miles will appear in Wolverine's neck of the woods.
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After fans have been speculating since its reveal, Insomniac's upcoming Wolverine game is confirmed to be in the same universe as Marvel's Spider-Man.
Marvel's Wolverine was announced two years ago now (a fact that has uncomfortably reminded me of the passage of time), and we haven't seen or heard that much of it since. It was a surprise reveal from Insomniac as everyone was expecting Spider-Man 2 when the developer's title card showed up - which it obviously did during the same presentation. Of course, immediately the question on many people's minds was whether this Wolverine game might be set in the same universe as Spider-Man, given that they share a developer. According to Spider-Man 2's creative director Bryan Intihar, they do in fact inhabit the same universe.
Intihar was recently interviewed by Kinda Funny talking all things Spider-Man 2 (you can watch it above, but the interview is focused on spoilers), where host Greg Miller asked if Insomniac's Marvel games do take place on the same earth. "They’re all 1048," replied Intihar. "I think I got that right, but yeah." For those that aren't familiar with how Marvel's multiverse works, different Earths have different numbers assigned to them, with the main comic universe being called Earth-616 as an example.
That was pretty much it in terms of confirmation, though, as Intihar didn't comment on if we'll be seeing either of the Spider-Men appear in Wolverine, or vice versa, so don't be too disappointed if Wolverine just ends up being a solo outing.
While we're still waiting to see more of Wolverine, if it's as good as Spider-Man 2, it's sure to fly off the shelves just as fast. With Spider-Man 2 being so successful, there's also the question of whether we'll get a Spider-Man 3 - but if we're lucky, we might even get a Venom spin-off.