Master Sgt. Gannon Ken Van Dyke, a U.S. Army special forces soldier, pleaded not guilty Tuesday in Manhattan federal court to charges of using classified information to bet on the capture of Venezuelan President Nicolás Maduro. Van Dyke, 38, is accused of making over $400,000 by betting on Maduro's removal from office before the operation was publicly announced.
Van Dyke, who helped plan and execute the raid, allegedly placed 13 bets on the prediction market Polymarket between late December 2025 and early January 2026. Prosecutors claim he used inside knowledge to profit from the operation, which resulted in Maduro's capture and subsequent transfer to New York City, where he faces federal drug-trafficking charges.
Van Dyke was arrested last week at Fort Bragg, where he is stationed, and released on bond after his court appearance. His defense team, led by attorneys Zach Intrater, Mark Geragos, and Tina Glandian, argues that the case hinges on legal motions to dismiss charges or exclude evidence. Intrater described the case as "anything but usual," emphasizing that the defense expects few disputes over the factual allegations.
The case has drawn attention to the regulation of prediction markets, which allow users to wager on various outcomes. Polymarket, one of the largest platforms, flagged Van Dyke's suspicious activity and alerted authorities. The Trump administration has been supportive of the prediction market industry, with the president's eldest son serving as an adviser to Polymarket and its competitor, Kalshi.
Van Dyke faces five charges, including unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction. Prosecutors have not ruled out additional charges or defendants but have not indicated plans to expand the case further.