U.S. soldier charged over predictive trading related to Maduro

According to CryptoNews, the U.S. Department of Justice has filed charges against active-duty service member Gannon Ken Van Dyke, alleging that he used confidential information from military operations to conduct prediction-market trading on Polymarket related to predictions concerning Nicolás Maduro, earning more than $400,000 in profit. In December, Van Dyke created a Polymarket account, made 13 bets in total, and spent more than $33,000, covering markets about whether Maduro would step down before the end of January and whether the U.S. would invade Venezuela. Prosecutors said Van Dyke attempted to conceal his identity by requesting Polymarket to delete his account, facing multiple charges including violations of the Commodity Exchange Act, cyber fraud, and illegal currency transactions; if convicted, he could face long-term imprisonment. The Commodity Futures Trading Commission has also brought a parallel civil lawsuit, seeking penalties and damages related to his trading activities. FBI Director Kash Patel said that anyone who uses confidential information for personal gain will be held accountable. The case has raised concerns about the risks of prediction markets and insider trading, and lawmakers have discussed restricting bets related to government policies.