US soldier involved in Maduro raid charged over alleged bets on capture

Prosecutors say beginning in early December the soldier, Gannon Ken Van Dyke, was involved in planning for the military operation to capture and depose Maduro.

Between early December and early January, Van Dyke allegedly placed 13 bets on Polymarket, a popular prediction market, related to American forces invading Venezuela and taking its head of state.

Van Dyke has been charged with commodities and wire fraud in addition to unlawful use of confidential government information for personal gain, according to the Department of Justice (DoJ). He is facing up to 60 years in prison.

In the news release, FBI assistant director in charge James C Barnacle Jr rebuked Van Dyke’s alleged betting, calling it a betrayal to his fellow soldiers.

“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.

“This involved a US soldier who allegedly took advantage of his position to profit off of a righteous military operation,” FBI director Kash Patel wrote on social media. “Investigation ongoing.”

Polymarket said in a social media statement the company had referred a user trading on classified government information to the DoJ.

“Insider trading has no place on Polymarket. Today’s arrest is proof the system works,” the company wrote.

The news came a day after three US congressional candidates were fined by a different prediction market site, Kalshi, for placing bets on the outcome of their races. One of the candidates, former reality TV contestant and Virginia Senate hopeful Mark Moran, claimed he placed the wager to prove a point.

Kalshi’s sanctions appeared to be a move to appease lawmakers, who have been considering legislation to curtail any government employees who may seek to profit from classified information.

Speculation about political insider trading have swirled in recent weeks, after well-timed wagers about the Iran war netted over $1 billion.

On Thursday evening in the Oval Office, Donald Trump told reporters he would look into Van Dyke’s arrest.

“I don’t know about it … that’s like Pete Rose betting on his own team,” he said, referring to the late and disgraced baseball player, who was banned by Major League Baseball player for gambling. The president has advocated for Rose to be inducted into the sport’s Hall of Fame.

When also asked whether he’s concerned about betting markets related to Iran, Trump replied: “The whole world unfortunately has become somewhat of a casino.”

“I was never much in favor of it. I don’t like it, conceptually, but it is what it is … it’s a crazy world, it’s a much different world than it was.”