US soldier charged over Polymarket betting tied to Venezuela operation
The Justice Department says an army serviceman used classified information from military operations to place prediction market wagers and profit over $400,000
A US Army special forces soldier has been indicted for allegedly using classified information about a military operation in Venezuela to place prediction market bets and earn more than $400,000 in profits, the Justice Department announced Thursday. Prosecutors say the case involves the misuse of sensitive national security information linked to the covert operation to capture Nicolás Maduro earlier this year.
The defendant, identified as Gannon Ken Van Dyke, is accused of participating in the planning and execution of a US military operation referred to as “Operation Absolute Resolve.” According to the indictment, he used access to classified details about the timing and scope of the operation to trade on Polymarket, a prediction marketplace offering contracts tied to geopolitical outcomes.
Acting Attorney General Todd Blanche said, “Our men and women in uniform are trusted with classified information in order to accomplish their mission as safely and effectively as possible and are prohibited from using this highly sensitive information for personal financial gain.” He added, “Widespread access to prediction markets is a relatively new phenomenon, but federal laws protecting national security information fully apply.”
FBI Director Kash Patel said, “Today’s announcement makes clear no one is above the law, and this FBI will do whatever it takes to defend the homeland and safeguard our nation’s secrets,” adding, “Any clearance holders thinking of cashing in their access and knowledge for personal gain will be held accountable.”
Prosecutors allege Van Dyke began trading in December 2025 on markets linked to Venezuela, including wagers on whether US forces would enter Venezuela, whether Maduro would be removed, and whether the US would take military action by specific dates. The indictment states he placed around 13 bets totaling approximately $33,034 while still in possession of classified information.
According to the Justice Department, Maduro was later apprehended in Caracas in early January 2026 during the operation, after which several related prediction contracts resolved in Van Dyke’s favor. Prosecutors say his trades generated approximately $409,881 in profits.
Officials further allege that Van Dyke transferred proceeds to cryptocurrency accounts and attempted to conceal his activity by deleting account information and changing associated emails. He is charged with commodities fraud, wire fraud, unlawful use of government information, and unlawful monetary transactions. If convicted, he faces decades in prison.