A U.S. Army soldier has been arrested on insider trading charges tied to bets placed on prediction markets surrounding the capture of former Venezuelan leader Nicolás Maduro, according to federal prosecutors.
Gannon Ken Van Dyke, stationed at Fort Bragg in North Carolina, helped plan and execute Operation Absolute Resolve, which resulted in Maduro’s capture. What his superiors did not know: Van Dyke had placed 13 wagers on Polymarket betting the U.S. would invade Venezuela or that Maduro would be captured before January 31.
The bets netted Van Dyke $409,881, the Justice Department said. Now, those wagers have landed him facing multiple criminal charges carrying the possibility of decades behind bars.
“Gannon Ken Van Dyke allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain,” said FBI Assistant Director James C. Barnacle Jr. The charges include unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction.
Court documents allege Van Dyke used classified information acquired through planning the operation to inform his bets. He had signed non-disclosure agreements prohibiting disclosure of sensitive military details.
Polymarket operates event contracts where users take yes or no positions on real-world outcomes. According to the Justice Department, Van Dyke took the Yes position on contracts including “U.S. Forces in Venezuela . . . by January 31, 2026,” “Maduro out by . . . January 31, 2026,” and “Will the U.S. invade Venezuela by . . . January 31.”
After reports surfaced about the unusual wagers following Maduro’s capture, Van Dyke attempted to conceal his activity by deleting his Polymarket account and changing the email address associated with the cryptocurrency exchange where he initially deposited his winnings.
The case comes as prediction markets face increased scrutiny over insider trading concerns. In February, Polymarket rival Kalshi banned an employee of YouTube personality MrBeast who had wagered using inside information, and this week the company announced similar action against several political candidates who bet on their own races.
