DOJ Arrests Gannon Ken Van Dyke Over Polymarket Bets on Nicolás Maduro Capture

A U.S. Army special operations soldier, Gannon Ken Van Dyke, was arrested and charged after federal authorities said he used classified information to place bets on Polymarket tied to the January capture of Venezuelan President Nicolás Maduro.

“DOJ arrests soldier who made $400,000 betting on Maduro's removal Gannon Ken Van Dyke, who allegedly placed the bet, helped with Maduro's capture”

ABC News

NBC News reported that the Justice Department filed criminal charges against Van Dyke, and it said he was accused of using his knowledge about the raid to capture Maduro to win almost $400,000 on Polymarket.

ABC News

ABC News said federal investigators alleged Van Dyke bet more than $33,000 on Polymarket just days before President Donald Trump announced Maduro’s capture, and that the series of bets netted more than $409,000.

The Guardian reported that prosecutors said Van Dyke allegedly cashed in over $400,000 on wagers about Maduro’s removal from office, and it said he was facing up to 60 years in prison.

Al Jazeera said the Department of Justice filed criminal charges against an active-duty soldier for placing a bet on the abduction of Maduro using classified military information for personal profit, and it put the amount at more than $400,000.

In the same reporting, the Guardian said Van Dyke allegedly placed 13 bets on Polymarket between early December and early January related to American forces invading Venezuela and taking Maduro.

ABC News added that prosecutors said Van Dyke tried to hide evidence by attempting to delete his Polymarket account and change the email address registered to his cryptocurrency exchange account.

The case was framed by prosecutors as a breach of trust, with the Guardian quoting FBI assistant director James C Barnacle Jr rebuking Van Dyke’s alleged betting as a betrayal to fellow soldiers.

Multiple outlets tied the alleged trading to specific dates around the Maduro operation and to the period when Van Dyke was said to have had access to classified information.

The Guardian said prosecutors alleged that beginning in early December Van Dyke was involved in planning for the military operation to capture and depose Maduro, and that between early December and early January he allegedly placed 13 bets on Polymarket.

Al Jazeera

Al Jazeera provided a more granular sequence, saying Van Dyke created a Polymarket account around December 26, 2025, and used a virtual private network to place his location abroad.

It said that within days he bought $96 worth of bets on the prospect that U.S. forces would be in Venezuela by January 31, and that on December 30 he placed roughly $1,323 in bets on Maduro being out of office before the end of January.

Al Jazeera added that on January 1 he gambled $6,100 on scenarios including Maduro being ousted and the U.S. invading Venezuela, and that the following day he placed even more bets worth $6,150, $6,000, $7,050 and $7,215 a piece.

It then said that in the early hours of January 3, the U.S. launched its military operation against Venezuela, culminating in the abduction and imprisonment of Maduro and his wife, Cilia Flores.

Al Jazeera also stated that the indictment explained Van Dyke “was involved in the planning and execution of Operation Absolute Resolve,” and that he possessed material nonpublic information about that operation at the time of each trade.

ABC News said the series of bets netted more than $409,000 and that prosecutors said Van Dyke tried to conceal his unlawful use of classified information by attempting to obscure the source of his unlawful proceeds and disguise his connection to accounts linked to the illicit trades.

President Donald Trump publicly weighed in on the case while also criticizing the broader spread of prediction markets.

“President Donald Trump on Thursday bemoaned to reporters the surge of interest in gambling and prediction markets in recent years, but he and his administration have been all in on the phenomenon, an NBC News review shows”

NBC News

NBC News reported that in the Oval Office Trump said, “You know, the whole world, unfortunately, has become somewhat of a casino,” and it quoted him describing a “crazy world” where people have “predictive markets.”

ABC News said Trump told reporters, “That's like Pete Rose betting on his own team,” and it quoted him adding, “Now, if he bet against his team, that would be no good, but he bet on his own team. I’ll look into it.”

The Guardian similarly reported Trump’s remarks in the Oval Office, including “I don’t know about it … that’s like Pete Rose betting on his own team,” and it quoted him again when asked about Iran-related betting: “The whole world unfortunately, has become somewhat of a casino.”

On the enforcement side, the Justice Department and FBI officials framed the alleged conduct as a betrayal of military trust.

The Guardian quoted acting attorney general Todd Blanche saying, “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,” and it also quoted FBI director Kash Patel writing on social media, “Investigation ongoing.”

Al Jazeera quoted James C Barnacle Jr saying, “Gannon Ken Van Dyke allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain,” and it said Van Dyke was 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.

Polymarket responded by saying it referred the suspicious bets to the Department of Justice and cooperated with the investigation, with ABC News quoting a Polymarket spokesperson statement: “Insider trading has no place on Polymarket. Today's arrest is proof the system works,” and the Guardian quoting Polymarket: “Insider trading has no place on Polymarket. Today’s arrest is proof the system works,”.

The Van Dyke case landed in a wider regulatory fight over who oversees prediction markets and how to prevent insider trading.

Politico described “Fault lines over who is in charge of regulation” and said several frontline Democrats were pushing to rein in the companies, while it noted that prediction markets like Polymarket and Kalshi were becoming an “economic and political force.”

The Guardian

Politico said that in March, California Gov. Gavin Newsom signed an executive order barring appointed state officials from using insider information to place bets on prediction markets, and it said regulation discussions were ongoing in other states including Arizona and Massachusetts.

Politico also said Donald Trump Jr. was an adviser for both Kalshi and Polymarket, and it described both companies spending “big to win over the country’s political class.”

Al Jazeera added that administration officials and close advisers to Trump, including his son Donald Trump Jr, maintained ties to the prediction market industry, and it said Trump Jr was named a “strategic adviser” to Kalshi in January 2025 shortly before his father was sworn in.

It also said that in May 2025, less than five months into Trump’s second term, the Commodity Futures Trading Commission dropped its legal fight against Kalshi, paving the way for bets to be placed on political events like elections.

The Guardian said the news came a day after three U.S. congressional candidates were fined by Kalshi for placing bets on the outcome of their races, and it named former reality TV contestant and Virginia Senate hopeful Mark Moran as one of the candidates.

NBC News also tied the administration’s posture to prediction markets by saying it had made moves to help online betting markets, including ending a Biden-era push to restrict Polymarket's U.S. operations.

The reporting suggests immediate consequences for Van Dyke’s case and broader implications for prediction markets and political betting.

“A US soldier who played a role in the January capture of Venezuelan president Nicolás Maduro is now in custody after allegedly cashing in over $400,000 on wagers about the politician’s removal from office, federal authorities announced on Thursday”

The Guardian

ABC News said Van Dyke was indicted on charges that included unlawful use of confidential information for personal gain, theft of nonpublic government information, commodities fraud, and wire fraud, and it described prosecutors saying he attempted to delete his Polymarket account and change the email address registered to his cryptocurrency exchange account.

The New York Times

The Guardian said Van Dyke was charged with commodities and wire fraud in addition to unlawful use of confidential government information for personal gain, and it said he was facing up to 60 years in prison.

Al Jazeera said each commodities fraud and unlawful transaction charge carries a maximum sentence of 10 years in prison, and that the wire fraud charge could result in up to 20 years, while it also said the indictment alleged he possessed material nonpublic information about Operation Absolute Resolve at the time of each trade.

Politico described how backlash was spreading in Washington and state capitals, and it said accusations of insider trading were dogging midterm election campaigns, while it also referenced the capture of Nicolás Maduro and the Polymarket bets tied to it.

NBC News reported that Trump’s remarks prompted a response from White House spokesman Davis Ingle, who said in a statement that “members of Congress and other government officials should be prohibited from using nonpublic information for financial benefit,” and it quoted Ingle’s statement that “The only special interest that will ever guide President Trump is the best interest of the American people.”

The same NBC News reporting said Trump Media announced in October it would be making prediction markets available on its Truth Social website through an exclusive arrangement with Crypto.com, with the feature “begin Beta testing live on Truth Social in the near future, followed by a full launch in the United States.”

Al Jazeera added that the availability of prediction markets expanded under Trump’s second presidency and that critics feared government officials and other politicians could use the platforms to bet on actions they themselves control.