A U.S. soldier has been charged with insider trading after allegedly profiting from classified information regarding the capture of Venezuelan President Nicolás Maduro.
As of early Tuesday, Gannon Ken Van Dyke, a U.S. special forces officer, was indicted for using insider knowledge to place bets on Polymarket.
Van Dyke reportedly made over $400,000 by betting on Maduro’s removal, which was planned starting December 8, 2025.
He placed a total of $33,000 in bets concerning whether Maduro would be out of office by January 31, 2026.
The Justice Department confirmed that the indictment includes charges of wire fraud and commodities fraud.
This marks the first instance of the DOJ prosecuting insider trading linked to prediction markets.
Polymarket flagged suspicious betting activity to authorities, highlighting concerns over the integrity of such platforms.
James C Barnacle Jr stated that Van Dyke “allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain.”
Experts warn this case could set a precedent for how insider trading is monitored in relation to military operations.
Yet, it remains unclear if Gannon Ken Van Dyke has legal representation at this time.
The maximum penalties could reach 20 years for wire fraud and up to 10 years for commodities fraud.
In a related statement, a Polymarket spokesperson emphasized that “insider trading has no place on Polymarket.”