A member of the special forces involved in the capture of Venezuelan President Nicolás Maduro has been apprehended for allegedly making over US$400,000 (£296,980) through bets placed on his removal from office. The United States Justice Department disclosed that Gannon Ken Van Dyke wagered more than US$33,034 (£24,534) on the Polymarket cryptocurrency gambling platform, winning a substantial sum of USD$409,000 (£303,686). These bets were made shortly before President Donald Trump’s announcement of Maduro’s capture following a raid on his residence in Caracas.
The significant bets raised suspicions of insider trading, leading to a lengthy investigation resulting in Van Dyke’s indictment on various charges, including exploiting confidential information for personal gain, theft of nonpublic government data, commodities fraud, wire fraud, and illicit monetary transactions. Following reports of unusual trading activities related to Maduro’s arrest on Polymarket after Trump’s “Operation Absolute Resolve” declaration, Van Dyke attempted to conceal his identity as the trader behind the controversial bets by requesting the deletion of his Polymarket account and changing the email linked to his cryptocurrency exchange account.
According to the indictment, Van Dyke misused classified information to profit personally through trades on a prediction market platform, trying to disguise his connection to the accounts involved in the unlawful transactions. Polymarket confirmed alerting the Department of Justice about the suspicious bets and fully cooperating with the investigation, stating that insider trading has no place on their platform. FBI Director Kash Patel emphasized that the indictment sends a clear message to those with access to privileged information, underscoring the FBI’s commitment to upholding the law and protecting national security secrets.
The arrest of Van Dyke for insider trading is a significant development in the US, although it mirrors similar cases globally. Earlier this year, an Israeli army reservist and a civilian faced charges in Israel for using classified information to place bets on Polymarket.