A U.S. Army Special Forces Master Sergeant, Gannon Ken Van Dyke, has been charged with using classified information to secure over $400,000 in profits on the prediction market platform Polymarket. Federal officials unsealed an indictment on April 23, 2026, alleging Van Dyke leveraged his access to sensitive details about "Operation Absolute Resolve," a military mission to capture Venezuelan President Nicolás Maduro in January 2026. The charges, filed in Manhattan federal court, highlight growing concerns over insider trading on online prediction markets.
Prosecutors allege that Van Dyke, 38, placed approximately 13 wagers totaling about $33,034 on Polymarket between December 27, 2025, and January 2, 2026. These bets concerned the likelihood of U.S. forces in Venezuela and Maduro's removal by specific dates, outcomes directly tied to the classified operation he was involved in. Following the successful apprehension of Maduro on January 3, 2026, Van Dyke's wagers resulted in substantial profits.
The Department of Justice further alleges that Van Dyke took steps to conceal his illicit gains, including transferring proceeds to a foreign cryptocurrency account and later to a new brokerage account. He also reportedly requested Polymarket to delete his account, falsely claiming he had lost email access. Van Dyke faces multiple charges, including unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction, which could lead to a maximum sentence of 50 years in prison.
The case has drawn strong reactions, including from former Congressman Adam Kinzinger, who dismissed calls for a pardon. "I’ve seen a few people in congress say the soldier that bet on Polymarket should be pardoned. This is a bad take," Kinzinger tweeted. He emphasized the alleged severity of the actions: "He used classified information, used a VPN, made many bets to try to hide it, immediately tried to hide the winnings and asked poly to delete his account. He absolute knew it was wrong. And should be held accountable."
Polymarket, for its part, stated it identified a user trading on classified government information, referred the matter to the Department of Justice, and cooperated with the investigation. The platform affirmed, "Insider trading has no place on Polymarket." This incident underscores broader discussions about the regulation of prediction markets and the ethical implications of individuals using privileged information for financial gain, prompting warnings from the White House to its staff against similar practices.
