A US soldier involved in the January capture of Venezuelan President Nicolás Maduro has been charged with insider trading after allegedly placing bets on the operation. Gannon Ken Van Dyke reportedly made over $400,000 on Polymarket, a prediction market, by wagering on Maduro's removal from office.
According to the Department of Justice, Van Dyke began planning the military operation in early December and placed 13 bets between then and early January. He faces charges of commodities and wire fraud, as well as unlawful use of confidential government information, with a potential prison sentence of up to 60 years.
FBI Director Kash Patel condemned the soldier's actions, stating on social media that Van Dyke 'allegedly took advantage of his position to profit off of a righteous military operation.' Acting Attorney General Todd Blanche emphasised that service members are prohibited from using classified information for personal gain.
Polymarket confirmed it referred the user to the Department of Justice, stating that 'insider trading has no place on Polymarket.' The case follows recent concerns about political insider trading, including well-timed wagers on the Iran war that netted over $1 billion.
President Donald Trump, when asked about the arrest, compared it to Pete Rose betting on his own team. He also expressed unease about betting markets, describing the world as 'somewhat of a casino.'
