The Department of Justice announced Thursday that it arrested Gannon Ken Van Dyke

Thu, Apr 23 · 11:15 PM UTC 2 min read

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NEW YORK NY JANUARY 5 Nicolas Maduro and his wife Cilia Flores are seen in handcuffs after landing at a Manhattan.

Van Dyke is the first person to be charged with insider trading on a prediction market in the United States.

Key facts

The following day, Van Dyke allegedly made his first Venezuela-related trade on Polymarket, putting a little less than $100 on a “YES” contract that US forces would be in Venezuela by January 31, 2026
On December 26, Van Dyke allegedly opened an account on Polymarket and took out around $35,000 from his bank account before transferring it to a cryptocurrency exchange
According to court documents, Van Dyke has been an active duty US soldier since September 2008 and rose to the level of master sergeant in 2023
Van Dyke is the first person to be charged with insider trading on a prediction market in the United States

Summary

The Department of Justice announced Thursday that it arrested Gannon Ken Van Dyke, an enlisted member of the US Army’s special forces, for allegedly using “classified, nonpublic” information about the capture of Venezuelan president Nicolás Maduro to notch more than $400,000 in profits on Polymarket trades. The arrest comes weeks after Department of Justice prosecutors met with Polymarket about potential insider tradition violations. After Van Dyke’s arrest was made public, Polymarket posted a statement to social media noting that it had “identified a user trading on classified government information” and “referred the matter to the DOJ & cooperated with their investigation.” The company declined to comment further. According to court documents, Van Dyke has been an active duty US soldier since September 2008 and rose to the level of master sergeant in 2023.