A special forces officer involved in the capture of Venezuelan president Nicolás Maduro has been apprehended for allegedly making over US$400,000 (£296,980) from betting on Maduro’s ousting. The United States Justice Department disclosed that Gannon Ken Van Dyke wagered more than US$33,034 (£24,534) on a cryptocurrency betting platform, Polymarket, and gained USD$409,000 (£303,686) in winnings. Van Dyke placed these bets shortly before President Donald Trump announced Maduro’s capture in an early morning raid on his residence in Caracas.
The wagers sparked suspicions of insider trading, prompting a months-long investigation that culminated in Van Dyke facing charges such as exploiting confidential information for personal gain, misappropriation of nonpublic government data, commodities fraud, wire fraud, and illicit financial transactions. Following Trump’s “Operation Absolute Resolve” declaration, unusual trading activities related to Maduro’s arrest on Polymarket attracted attention from the media and social platforms. In an effort to conceal his involvement, Van Dyke asked Polymarket to delete his account, falsely citing email access issues. He also changed the email linked to his cryptocurrency exchange account to a different address not under his name.
An indictment stated that Van Dyke misused classified government intel to profit personally instead of safeguarding the information, and he tried to obscure the sources of his illegal gains. Polymarket confirmed reporting the suspicious bets to the Department of Justice and cooperating with the investigation, denouncing insider trading. FBI Director Kash Patel emphasized that no one is exempt from the law, warning against exploiting privileged information for personal benefits.
While Van Dyke’s arrest represents a first for US authorities, similar incidents have occurred globally. In February, an Israeli army reservist and civilian faced charges in Israel for using classified data to place bets on Polymarket.