A United States Army Special Forces soldier who helped capture Venezuela’s Nicolás Maduro was accused of using confidential information to bet on the mission on Polymarket, a prediction platform, federal authorities said on Thursday (24).
The soldier, Warrant Officer Gannon Ken Van Dyke, stationed at Fort Bragg, North Carolina, profited more than US$400,000 betting on different outcomes related to Venezuela after learning of the operation, according to federal prosecutors and the FBI.
The complaint filed in Manhattan federal court states that Van Dyke, 38, participated in the “planning and execution” of Maduro’s capture and had been placing bets until January 2, the day before the arrest of the Venezuelan leader and his wife, Cilia Flores, in a complex in Caracas.
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According to the indictment and Jay Clayton, U.S. Attorney for the Southern District of New York, the sergeant made 13 bets on events related to Maduro and Venezuela, including “bets on the timing and outcome” of the operation to remove Maduro from power.
The complaint represents one of the most high-profile cases involving a US government official who allegedly used confidential information to make money in prediction markets — a national security risk that led the White House to warn its staff to avoid this type of “insider trading”. The warning came amid a rise in suspicious operations related to the war with Iran.
Companies that operate prediction markets have faced increased scrutiny in recent months. The US Senate and House of Representatives are analyzing bills to limit the use of one of these sites, Kalshi, by public authorities, and states are also studying stricter regulations.
Acting Attorney General Todd Blanche stated: “Our men and women in uniform are given access to confidential information to carry out their missions as safely and efficiently as possible, and they are prohibited from using this type of highly sensitive information for personal financial gain.”
Asked on Thursday about the use of prediction markets by government officials, President Donald Trump said: “Unfortunately, the whole world has become, to some extent, one big casino.”
He added: “I’ve never been much for it. I don’t like it conceptually. It is what it is. I’m not happy with any of it.”
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In a statement on Thursday, Polymarket said it published new rules last month to tighten the crackdown on insider trading. The platform also stated that, whenever it identifies a user operating based on confidential government information, it forwards the case to the Department of Justice and cooperates with the investigations.
Hours before American troops captured Maduro on January 3, it was reported that a Polymarket user had placed a $32,000 bet that Maduro would be out of power by the end of January — an operation that yielded more than $400,000 in profits. The Polymarket statement and the values described in the complaint suggest that the charges announced on Thursday are related to this bet.
According to the indictment, the sergeant tried to hide the money obtained by moving the funds several times: first to a cryptocurrency vault abroad, then to a personal cryptocurrency account and, finally, to a newly opened account at a brokerage. After news began circulating about suspicious trades linked to Maduro’s capture, Van Dyke attempted to delete his Polymarket account, falsely claiming that he had lost access to the email associated with the registration.
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The indictment charges Van Dyke with five crimes: illegal use of confidential government information for personal gain; theft of non-public government information; commodities fraud; electronic fraud (wire fraud); and carrying out a financial transaction with resources arising from specific illegal activity.
Still on Thursday, Van Dyke was scheduled to appear before a federal judge in North Carolina, in the Eastern District, and is expected to be transferred to Manhattan to respond to the case, the federal prosecutor’s office in New York said. It was not possible to identify a lawyer for the sergeant to comment on the case.
According to the complaint, Van Dyke has been an active duty military member since around 2008. Since 2023, he has held the rank of warrant officer in the U.S. Army Special Forces. Ten years after joining the Army, he received special access to confidential information, signing a formal commitment promising never to disclose the contents of this data. Last year, it signed a similar agreement linked to military operations in the Western Hemisphere.
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At the end of last year, Polymarket started allowing users to bet on certain events involving Venezuela and Maduro, according to the indictment.
In September, the platform offered a contract that allowed betting on the possibility of there being “US forces in Venezuela” by certain dates. In November, bets included the chance that Maduro would be “out” or removed from power by a series of deadlines. In mid-December, a market was launched on the possibility of a US invasion of Venezuela by January 31st.
On the night of January 2, the eve of Maduro’s capture, Van Dyke spent thousands of dollars buying “yes” shares in markets that were betting on “Maduro out” until January 31 and on “US forces in Venezuela” until the same date.
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