US Military Officer Charged with Insider Betting of $400,000 via Polymarket

US military officer charged with insider betting via Polymarket.

The US Department of Justice has charged active-duty service member Gannon Kane Van Dyke, suspected of using classified information for betting on the prediction platform Polymarket.

PRESS RELEASE | DOJ State Prosecutors, AMLC Legal Officers secure conviction for violation of AMLA Record-Keeping requirements

Read more: https://t.co/YQZucLJdNe#DOJPH#BagongPilipinas pic.twitter.com/HY2aqYNAQc

— Department of Justice (DOJ) (@dojphofficial) April 23, 2026

According to the investigation, Van Dyke was involved in the planning and execution of Operation “Absolute Resolve” to capture former Venezuelan President Nicolás Maduro. With access to confidential data on the mission’s timing and details, the military officer allegedly used this information for profit.

Court documents reveal that the suspect placed approximately $33,000 on related events and earned over $400,000 in profits. Prosecutors claim that after winning, he attempted to conceal his tracks through an offshore crypto wallet and brokerage account.

The charges against the suspect include:

• illegal use of confidential government information;
• theft of non-public data;
• fraud in commodity markets and using electronic communications;
• illegal financial operations.

Acting US Attorney General Todd Blanche stated that access to classified information cannot be used for personal gain. The US Attorney for the Southern District of New York, Jay Clayton, described the accused’s actions as “blatant insider trading.”

“Our department will continue to hold accountable those who abuse confidential or secret information in ways that undermine and exploit our national security,” the prosecutor emphasized.

Polymarket stated that they themselves provided authorities with data on the user’s suspicious activity, as the platform had previously tightened rules against insider activity.

Last month, we published our enhanced market integrity rules to combat insider trading.

When we identified a user trading on classified government information, we referred the matter to the DOJ & cooperated with their investigation.

Insider trading has no place on Polymarket.…

— Polymarket (@Polymarket) April 23, 2026

The 38-year-old Van Dyke faces up to 10 years in prison on four of the five charges. The maximum penalty for fraud using electronic communications is 20 years of imprisonment.

In April, two accounts on Polymarket were suspected of manipulation after they earned $37,000 from correct bets on abnormal temperature readings at the Charles de Gaulle Airport weather station in Paris.