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U.S. military soldier charged with insider trading, profited $409k on Polymarket using confidential information
CryptoWorld News reports that, according to Coinpedia, U.S. soldier Gannon Ken Van Dyke has been charged with insider trading for using confidential military information to trade on the crypto prediction platform Polymarket, netting approximately $409,000. Van Dyke, 38, allegedly placed bets using sensitive information related to secret operations by the United States against former Venezuelan President Nicolás Maduro, and faces multiple charges including wire fraud and violations of the Commodity Exchange Act; the most serious charge could lead to up to 20 years in prison. The case has drawn attention to the risks of insider trading on prediction markets. Between late 2025 and early 2026, Van Dyke allegedly made about 13 bets, with total spending close to $33,000, and ultimately obtained nearly $409,000 in profits. The case has now been transferred to the U.S. District Court in New York, and the Commodity Futures Trading Commission (CFTC) has also filed a civil lawsuit seeking fines and a permanent ban on trading. Polymarket said it had identified suspicious trading activity and reported it to authorities, emphasizing its strict prohibition against insider trading.