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He allegedly won 409,000 USD on a 33,000 bet.
A US special forces soldier is facing serious criminal charges after authorities say he exploited insider knowledge of a military operation for financial gain.
The case has drawn attention to the growing risks tied to political betting platforms.
According to a press release from the US Department of Justice, prosecutors allege the soldier earned hundreds of thousands of dollars by wagering on the outcome of a high-profile mission involving Venezuela’s leader.
Gannon Ken Van Dyke, an active-duty soldier, was arrested and charged with fraud and misuse of classified information, according to the press release.
Betting on secrets
Van Dyke allegedly used confidential intelligence tied to the January operation that resulted in the capture of Venezuelan president Nicolás Maduro.
Prosecutors say he placed 13 bets on the prediction market Polymarket between December and early January, staking more than $30,000 and earning over $400,000.
Authorities argue the wagers were based on privileged information obtained through his involvement in planning the mission.
Charges and response
Van Dyke faces multiple counts, including wire fraud and commodities fraud, with a potential sentence of decades in prison, The Guardian reported.
FBI Director, Kash Patel, wrote on X, that the case as a breach of trust within the military ranks.
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Platform scrutiny
Polymarket said in a statement that it identified suspicious activity and referred the case to law enforcement, stating that insider trading is not tolerated on its platform.
The case is believed to be among the first criminal prosecutions involving insider trading on a prediction market, highlighting regulatory concerns as such platforms grow in popularity.
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Wider concerns
The arrest comes amid broader scrutiny of political betting. Recent high-profile wagers tied to global events have raised fears that individuals with privileged access could exploit sensitive information.
President Donald Trump commented on the case, comparing it to athletes betting on their own games and describing the broader trend as troubling.
Sources: AP News, Axios, The Guardian, Kash Patel on X, press release from the US DoJ
