Written by Jesse Coghlan, Staff Editor. Reviewed by Felix Ng, Staff Editor. US soldier charged over Polymarket bets on Maduro pleads not guilty
A US special forces soldier who helped plan Nicolás Maduro’s capture and was charged with making bets ahead of the operation was released on a $250,000 bond.
The US special forces soldier charged with using classified information about the military operation to capture former Venezuelan President Nicolás Maduro to bet on Polymarket has pleaded not guilty.
Gannon Ken Van Dyke appeared before a Manhattan federal court on Tuesday and pleaded not guilty to the five charges that prosecutors brought on Thursday.
The court released Van Dyke on a $250,000 bond and ordered that he surrender his passport and restrict his travel.
The Justice Department charged Van Dyke with three counts of violating federal commodities laws, one count of wire fraud and one count of unlawful monetary transaction, which together carry a maximum sentence of 60 years in prison if he is found guilty.
Gannon Ken Van Dyke, pictured arriving at court in New York City, pleaded not guilty to making bets on a US military raid in Venezuela. Source: YouTube
Prosecutors claimed Van Dyke, a master sergeant in the US Army, was involved in the planning and execution of “Operation Absolute Resolve,” a special forces raid in Caracas, Venezuela, in January that led to Maduro’s capture.
It is alleged that Van Dyke used information about the impending classified raid to buy “yes” shares in Polymarket contracts, making around 13 bets on markets related to Maduro and Venezuela.
Prosecutors claimed he bet more than $33,000 on markets such as “US Forces in Venezuela by January 31”; “Maduro out by January 31”; “Will the U.S. invade Venezuela by January 31”; and “Trump invokes War Powers against Venezuela by January 31.”
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The Justice Department claimed Van Dyke profited nearly $410,000 from the alleged bets after some of them resolved to “yes,” adding that “reports of unusual trading in Maduro-related contracts on Polymarket appeared in the press and on social media.”
Van Dyke is also facing parallel action from the US Commodity Futures Trading Commission, which accused him of insider trading on Polymarket using classified nonpublic information.
His next court appearance is scheduled for June 8.
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