US soldier accused of betting on Maduro's removal pleads not guilty to fraud charges

April 28, 2026

A US Army Special Forces master sergeant, Gannon Ken Van Dyke, entered a not guilty plea to federal charges alleging he used classified military intelligence about Venezuela's president for illegal betting profits. Prosecutors claim the 38-year-old soldier leveraged insider knowledge of a covert operation to capture Nicolás Maduro by placing approximately $34,000 in bets on the cryptocurrency prediction platform Polymarket between late December and early January, ultimately winning over $400,000. The case represents the first Department of Justice prosecution for insider trading involving prediction markets and has drawn attention to potential misuse of classified information by government officials on such platforms.

Who is affected

Gannon Ken Van Dyke, the 38-year-old US Army Special Forces master sergeant facing criminal charges
Venezuelan President Nicolás Maduro, who was captured as part of Operation Absolute Resolve
Polymarket, the cryptocurrency prediction platform where the bets were placed
The US Department of Justice and Commodity Futures Trading Commission bringing the charges
US government and military institutions concerned with classified information security

What action is being taken

Van Dyke is being prosecuted by the Department of Justice on multiple federal charges
A separate civil lawsuit is being pursued by the Commodity Futures Trading Commission
Van Dyke remains under court supervision in North Carolina with travel restrictions
His legal team, led by Mark Geragos, is preparing to file motions challenging the indictment and jurisdiction

Why it matters

This case represents the first Department of Justice prosecution for insider trading involving prediction markets, establishing legal precedent for how classified government information may be misused for personal financial gain on cryptocurrency platforms. The prosecution highlights growing concerns about government officials and military personnel exploiting non-public information to profit from blockchain-powered prediction markets. The case also raises important questions about information security within sensitive military operations and the oversight mechanisms needed to prevent abuse of classified intelligence.

What's next

Van Dyke's defense team will file motions "shortly" challenging the indictment and the case's jurisdiction
Van Dyke will remain under court supervision while the case proceeds

Read full article from source: BBC