A U.S. special forces soldier is due in federal court in New York on Tuesday on charges that he used classified information about the mission to capture former Venezuelan leader Nicolás Maduro to win more than $400,000 on the prediction market Polymarket.
Gannon Ken Van Dyke, 38, has been charged with the unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud and making an unlawful monetary transaction.
The case comes during heavy scrutiny on prediction markets, which allow people to trade or wager on almost anything, as policymakers call for stricter regulation of the platforms amid concerns about insider trading.
Prosecutors said Van Dyke was involved in the planning and execution of Maduro's capture and had signed nondisclosure agreements centered on the operations, but he eventually placed a series of bets related to Maduro being out of power by Jan. 31.
Polymarket, one of the largest prediction markets, flagged the suspicious activity and turned it over to the government, according to CEO Shayne Coplan.
Van Dyke, who is stationed at Fort Bragg near Fayetteville, North Carolina, was granted bond after a court hearing in North Carolina last week and will continue his case in New York. Court records did not list an attorney for him in New York.
The Trump administration has been supportive of the prediction market industry's expansion. The president’s eldest son is an adviser for both Polymarket and its main competitor, Kalshi, and he is a Polymarket investor. Trump’s social media platform, Truth Social, is launching its own prediction market called Truth Predict.
