U.S special operations soldier released on bond after indictment over $400,000 Polymarket bets tied to Maduro capture, court rules
A U.S. special operations soldier has appeared in federal court in North Carolina after being indicted for allegedly using classified information to place prediction market bets tied to the capture of Venezuelan leader Nicolás Maduro, earning more than $400,000 in profits.
Master Sgt. Gannon Ken Van Dyke was ordered released on a $250,000 bond following his initial court appearance in Raleigh on Friday. As part of his release conditions, he must surrender his passport, restrict travel to parts of New York and North Carolina, avoid excessive alcohol use, and refrain from possessing firearms except in connection with official military duties. He is scheduled to appear in federal court in New York later this month.
Court records allege Van Dyke placed a series of bets totaling more than $33,000 on a prediction market platform in the days leading up to the U.S. announcement of Maduro’s capture. Those wagers ultimately generated more than $400,000 in profits, prompting a federal investigation into whether he used nonpublic military information to inform his trades.
Prosecutors have charged him with multiple offenses, including unlawful use of confidential government information, theft of nonpublic information, wire fraud, and commodities fraud. Authorities also allege that after news of unusual trading activity surfaced, he attempted to conceal his involvement by deleting account data and altering information tied to his cryptocurrency exchange profile.
Investigators say Van Dyke was directly involved in planning and executing the operation in Venezuela, giving him access to sensitive details about the mission. They argue he used that access to bet on outcomes related to Maduro’s capture and the timing of U.S. actions.
The case has drawn wider attention to prediction markets, where event-based trading has raised concerns about potential misuse of insider or sensitive information. Officials say similar platforms have seen large profits tied to geopolitical events, intensifying scrutiny from regulators.
Van Dyke has not entered a plea. He is currently represented by a public defender, and the case remains under investigation as it moves forward in federal court.
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