1 month ago
The US service worker charged pinch winning $400,000 by utilizing insider accusation to stake connected nan removal of nan ousted Venezuelan president Nicolás Maduro pleaded not blameworthy to fraud charges connected Tuesday.
Gannon Ken Van Dyke, 38, entered nan plea successful US territory judge Margaret Garnett’s courtroom successful Manhattan. Van Dyke sported a shaved caput and wore a achromatic blazer, jeans and brownish shoes arsenic he arrived to nan courtroom pinch his lawyers, Zach Intrater and Mark Geragos.
Van Dyke was arrested connected 23 April connected a national indictment charging him pinch placing $33,000 successful bets connected prediction marketplace Polymarket betwixt 27 December 2025 and 2 January 2026 that Maduro would soon beryllium retired of agency and that US forces would soon participate Venezuela.
Markets astatine nan clip assigned debased probabilities to those events, starring to a large payout for Van Dyke, prosecutors said.
The lawsuit marks nan first clip nan US justness section has revenge insider trading charges involving a prediction market. The Commodity Futures Trading Commission besides revenge civilian charges against Van Dyke.
Van Dyke, a maestro sergeant pinch US service typical forces who is stationed astatine Fort Bragg successful North Carolina, was progressive successful nan “planning and execution” of nan January ambush that captured Maduro and his wife, Cilia Flores, prosecutors said.
He faces 5 criminal counts: unlawful usage of confidential authorities accusation for individual gain, theft of non-public authorities information, commodities fraud, ligament fraud and making an unlawful monetary transaction.
Polymarket said it flagged Van Dyke’s trading to nan authorities and cooperated pinch nan investigation.
Rival prediction marketplace Kalshi had antecedently blocked Van Dyke from opening an relationship owed to nan platform’s ID requirements, Reuters reported connected Friday, citing a personification acquainted pinch nan matter.
US magistrate judge Brian Meyers successful Raleigh, North Carolina, ordered Van Dyke released connected $250,000 enslaved astatine his first tribunal quality connected Friday successful Raleigh. Garnett is expected to oversee Van Dyke’s lawsuit going forward.
