A US Army soldier is facing serious charges after allegedly using classified information to make over $400,000 by betting on a US military operation targeting the capture of former Venezuelan president Nicolás Maduro. The soldier, identified as 38-year-old Gannon Ken Van Dyke from Fayetteville, North Carolina, used the online platform Polymarket to place bets on the outcome of US forces’ operation in Venezuela. This operation led to Maduro’s arrest on January 3, 2026, and his subsequent extradition to New York for drug trafficking charges.
Van Dyke’s actions are a clear violation of military conduct, which prohibits using sensitive and classified information for personal financial gain. The Department of Justice has charged him with one count of wire fraud, one unlawful monetary transaction, and three counts of violating the Commodity Exchange Act. According to justice officials, Van Dyke was directly involved in the planning and execution of the mission to depose Maduro, which makes the betting even more troubling.
The online platform Polymarket responded by flagging Van Dyke’s account, cooperating with the investigation, and emphasizing that insider trading has no place on their platform. This case is the latest in a troubling trend of individuals using insider information to place lucrative bets on geopolitical events, as evidenced by similar cases earlier in the year.
If convicted, Van Dyke faces a lengthy prison sentence of up to 50 years, underscoring the gravity of his alleged actions. Critics have expressed concern over how widespread this practice may be, especially with certain political figures, including former President Donald Trump, facing accusations of conflicts of interest related to financial gains made during their tenure in office.
