US soldier charged for betting on Maduro abduction using insider info

The United States Department of Justice has charged Gannon Ken Van Dyke, a 38-year-old active-duty soldier, for allegedly using classified military information to place bets on the abduction of Venezuelan President Nicolas Maduro. Prosecutors claim Van Dyke made over $400,000 from these bets on the prediction market platform Polymarket, which he accessed 13 times to wager on various scenarios regarding US military actions in Venezuela.

Assistant FBI Director James C Barnacle Jr stated, "Gannon Ken Van Dyke allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain." Van Dyke faces multiple charges, including three counts of violating the Commodity Exchange Act and one count each of wire fraud and unlawful monetary transaction, with potential prison sentences totaling up to 50 years.

The rise of prediction markets, particularly under the Trump administration, has raised concerns about insider trading among government officials. Following the launch of a military operation against Venezuela on January 3, 2026, which resulted in Maduro's abduction, questions have emerged regarding the integrity of these betting platforms. The indictment claims Van Dyke was involved in the planning of this operation and had access to nonpublic information at the time of his trades.

Van Dyke reportedly created his Polymarket account in late December 2025, using a VPN to disguise his location. His betting escalated as the military operation approached, with significant wagers placed on various outcomes related to Maduro and US intervention. After realizing his profits, he transferred much of his earnings to a foreign cryptocurrency vault and subsequently attempted to delete his account.

This incident has intensified scrutiny on the use of prediction markets by government officials, with lawmakers questioning the potential for insider trading. The case against Van Dyke exemplifies the risks associated with the intersection of classified information and financial speculation in the political arena.