A U.S. soldier became the first American charged with insider trading through Polymarket after using classified information to make $400,000 in profits through bets on the capture of former Venezuelan dictator Nicolas Maduro.
Gannon Ken Van Dyke, 38, was charged by the Department of Justice with the unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction. The charges stem from his use of classified information to place a bet of $33,000 relating to the U.S. operation to capture Maduro.
According to the DOJ, Van Dyke was involved in Operation Absolute Fury from about Dec. 8, 2025, through Jan. 6, 2026. He created a Polymarket account on Dec. 26, 2025, after which he made around 13 bets from Dec. 27, 2025, to Jan. 2, 0226. The bets included “YES” wagers on positions including “U.S. Forces in Venezuela … by January 31, 2026”; “Maduro out by … January 31, 2026”; “Will the U.S. invade Venezuela by … January 31,”; and “Trump invokes War Powers against Venezuela by … January 31.”
After his bets were successful and he won over $400,000, Van Dyke took steps to conceal his identity and delete his account after cashing out.
“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,” acting Attorney General Todd Blanche said in a statement. “Widespread access to prediction markets is a relatively new phenomenon, but federal laws protecting national security information fully apply.”
“Today’s announcement makes clear no one is above the law, and this FBI will do whatever it takes to defend the homeland and safeguard our nation’s secrets,” FBI Director Kash Patel said. “Any clearance holders thinking of cashing in their access and knowledge for personal gain will be held accountable.”
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Van Dyke’s charges combined give a maximum penalty of 60 years in prison.
Though Van Dyke became the first American to be charged with insider trading over Polymarket, the title of the first ever to be charged belongs to two Israelis, who were charged in February with using state secrets to make money off of bets surrounding the 12-day war in June 2025.