A US soldier involved in the January capture of Venezuelan President Nicolás Maduro has been charged with insider trading after allegedly making over $400,000 on prediction market Polymarket. Gannon Ken Van Dyke faces up to 60 years in prison for commodities and wire fraud, as well as unlawful use of confidential government information.
According to the Department of Justice, Van Dyke placed 13 bets between early December and early January on the military operation to depose Maduro. The FBI's James C Barnacle Jr condemned the alleged betting as a betrayal of fellow soldiers, while acting attorney general Todd Blanche stated that service members are prohibited from using classified information for personal gain.
Polymarket confirmed it referred the user to the DoJ, stating that insider trading has no place on the platform. The case follows recent scrutiny of political insider trading, including well-timed wagers on the Iran war that netted over $1 billion.
President Donald Trump commented on the arrest, comparing it to Pete Rose betting on his own team, and expressed general disapproval of betting markets, calling the world 'somewhat of a casino.'
