Soldier Who Made $400,000 Betting On Maduro’s Capture Pleads Not Guilty
The special forces soldier accused of using insider information about plans to capture Venezuela’s authoritarian President Nicolas Maduro and made $400,000 on a prediction market as a result pleaded not guilty to federal charges.
Master Sgt. Gannon Ken Van Dyke appeared in Manhattan federal court on Tuesday and was released on $250,000 bond after entering his plea, ABC News reported. Federal prosecutors allege that Van Dyke used classified information related to Maduro’s eventual capture in Venezuela to make the bets.
Van Dyke, 38, faces charges of unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction.
According to prosecutors in 2025 Polymarket began offering binary events related to potential U.S. action against Maduro. For example, the contracts included the future likelihood of U.S. forces being in Venezuela by certain dates and the likelihood of Maduro being removed from power.
Prosecutors allege that Van Dyke created an account on Polymarket on Dec. 26, 2025, and began trading in Maduro and Venezuela-related markets, making 13 bets.
“Van Dyke bet a total of approximately $33,034 on those outcomes while in possession of classified nonpublic information about Operation Absolute Resolve,” prosecutors said.
After Maduro was captured, Van Dyke’s winnings on related contracts totaled about $409,000. Prosecutors allege that Van Dyke then sent most of the proceeds from Polymarket to a foreign cryptocurrency vault before depositing them into a newly created online brokerage account.
“Gannon Ken Van Dyke allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain,” said FBI Assistant Director in Charge James C. Barnacle Jr. “Van Dyke profited more than $400,000 by trading various outcomes related to Venezuela after learning of the operation because of his role as a U.S. Army soldier.”
Once news stories began appearing regarding unusual trading activity, prosecutors say that Van Dyke took steps to hide his involvement, including asking Polymarket to delete his account under the guise that he had lost access to his email.
ABC News reported that Van Dyke is on leave from the Army and his military status remains unresolved. One of his attorneys, Zach Intrater, told ABC News that the case would “largely rise and fall” on motions related to evidence and admissibility.
“This is anything but a usual case,” Intrater told the outlet.
The charges carry a range of potential penalties. Van Dyke faces up to 10 years in prison on the three counts of violating the Commodity Exchange Act. The wire fraud charge carries a potential maximum sentence of 20 years in prison. The unlawful monetary transaction carries a maximum penalty of 10 years in prison.
