US Army Soldier Faces December Trial for Alleged Insider Trading on Polymarket Over Venezuela Bets

On Monday, a trial date was set for December 7 for U.S. Army soldier Gannon Ken Van Dyke, accused of using classified military intelligence on Venezuelan President Nicolás Maduro's removal to place insider trades on Polymarket, according to courtroom reporting. The 38-year-old pleaded not guilty in April to five federal charges including commodities fraud.

Prosecutors allege Van Dyke placed 13 bets over seven days in late December, generating $410,000 in profit on a $33,000 initial investment. He is also accused of requesting deletion of his Polymarket account to cover his tracks and faces charges including violations of the Commodity Exchange Act, wire fraud, and unlawful monetary transactions.