A US soldier who participated in the capture of Venezuelan President Nicolás Maduro in January has been arrested for allegedly making over $400,000 from bets on the operation. Gannon Ken Van Dyke faces charges including commodities and wire fraud, and could face up to 60 years in prison.
According to the Department of Justice, Van Dyke placed 13 bets on the prediction market Polymarket between early December and early January, wagering on a US invasion of Venezuela and Maduro's removal. Prosecutors say he was involved in planning the military operation from early December.
FBI assistant director James C Barnacle Jr condemned the alleged betting as a betrayal of fellow soldiers. Acting Attorney General Todd Blanche stated that soldiers 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 arrest 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 case, comparing it to Pete Rose betting on his own team, and expressed general disapproval of betting markets, saying the world has become 'somewhat of a casino.'
