A U.S. Army special forces soldier has been charged with using classified information to profit over $400,000 from bets on the capture of Venezuelan President Nicolás Maduro. The case marks the first time U.S. officials have filed criminal charges over prediction market wagers.
Soldier Accused of Insider Trading
A U.S. Army special forces soldier involved in the capture of Venezuelan President Nicolás Maduro has been charged with using classified information to place bets on the operation, resulting in over $400,000 in profits. Gannon Ken Van Dyke, 38, was indicted on multiple counts, including wire fraud, commodities fraud, and misuse of nonpublic government information. The charges stem from his alleged use of insider knowledge to place bets on the prediction market platform Polymarket, where he wagered on Maduro's removal and U.S. military action in Venezuela.
Timeline of Bets and Raid
Van Dyke, stationed at Fort Bragg, North Carolina, is accused of making 13 bets between December 27, 2025, and January 2, 2026, just before the January 3 raid that captured Maduro.
Legal Ramifications and Regulatory Concerns
The Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) filed separate actions against Van Dyke, marking the first time U.S. officials have leveled criminal charges over prediction market wagers. The DOJ emphasized that prediction markets are not a haven for insider trading and that those entrusted with classified information have a duty to protect it. Van Dyke faces a maximum sentence of 20 years in prison if convicted of the top count, wire fraud. Polymarket, the platform where the bets were placed, has since enhanced its market integrity rules to combat insider trading and cooperated with the DOJ's investigation. The case raises questions about the regulation of prediction markets and the potential for insider trading in these platforms.