US soldier faces charges over alleged betting on Venezuelan presidents abduction

US Soldier Charged with Betraying Classified Information for Personal Gain

A 38-year-old active-duty soldier, Gannon Ken Van Dyke, has been charged by the US Department of Justice with violating federal laws related to insider trading and wire fraud. The charges stem from his use of classified military information to place bets on the outcome of a military operation against Venezuelan President Nicolas Maduro.

According to the indictment, Van Dyke created a Polymarket account in December 2025 and used a virtual private network (VPN) to conceal his location while placing bets on various topics related to the operation. The bets included predictions on whether US forces would invade Venezuela and when Maduro would be removed from office.

Prosecutors allege that Van Dyke made over $400,000 in profits from these bets, using classified intelligence he had access to as a military personnel. He has been charged with three counts of violating the Commodity Exchange Act, one count of wire fraud, and one count of carrying out an unlawful monetary transaction.

The charges carry significant penalties, including up to 10 years in prison for each commodities fraud charge and up to 20 years for the wire fraud charge. The indictment also notes that Van Dyke was involved in the planning and execution of Operation Absolute Resolve, the military operation against Venezuela that resulted in Maduro’s abduction and imprisonment.

The use of prediction markets, online betting platforms where users can gamble on real-world events, has expanded under the Trump administration. Administration officials and close advisers to President Trump have ties to the industry, which has raised concerns about the potential for insider trading.

Source: Al Jazeera