A U.S. soldier has been charged with insider trading after allegedly using classified information to profit from bets on Polymarket regarding military actions in Venezuela. Gannon Ken Van Dyke, a member of the U.S. Army, reportedly made over $400,000 by betting on the outcomes of military operations.
Van Dyke created a Polymarket account on December 26, 2025. He placed around 13 bets related to Venezuelan politics and military operations. The Justice Department accused him of unlawfully using confidential government information and committing commodities fraud.
After a raid aimed at capturing Venezuelan President Nicolas Maduro, Van Dyke allegedly profited approximately $409,881. He sent his winnings to a foreign cryptocurrency vault before transferring them to a new online brokerage account.
Polymarket stated they referred the matter to the Department of Justice and cooperated with their investigation. Donald Trump weighed in on the situation, comparing Van Dyke’s actions to Pete Rose betting on his own team. He expressed disapproval of betting markets, stating that the world has become somewhat of a casino.
Rep. Anna Paulina Luna called for leniency for Van Dyke, arguing that punishing him alone would represent skewed justice. She suggested that this case raises broader questions about ethics in betting markets.
This incident highlights the intersection of insider trading and modern betting platforms like Polymarket. As cryptocurrency continues to influence various sectors, concerns about regulatory oversight grow.
Yet, officials have not confirmed how widespread such practices may be among military personnel or others with access to classified information. The implications for both Polymarket and the U.S. Army could be significant as this case unfolds.
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