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A US special forces soldier involved in the military operation that led to the capture of Nicolas Maduro won $400,000 after placing a bet on Polymarket on the overthrow of the former Venezuelan leader before the information became public.
Gannon Van Dyke, a United States Army Special Forces soldier, has pleaded not guilty to federal charges that he used confidential information to profit financially from betting on the overthrow of former Venezuelan President Nicolás Maduro.
According to prosecutors, Van Dyke placed about $33,000 in bets on the prediction platform Polymarket between December 27, 2025, and January 2, 2026, predicting that Maduro would leave power and that U.S. forces would enter Venezuela. At the time, the market considered these scenarios to be low probability, which allowed him to secure large profits of over $400,000.
Authorities say Van Dyke had a role in the "planning and execution" of the January 3, 2026 military operation that led to the capture of Maduro and his wife, Cilia Flores.
The case is considered the first in which the Justice Department has brought charges of insider trading related to a futures market. In parallel, the Commodity Futures Trading Commission (CFTC) has also filed civil lawsuits.
Defense attorney Mark Geragos said he would contest the validity of the indictment, calling his client an "American hero" and arguing that his actions did not constitute a crime.
The judge set Van Dyke's release on $250,000 bail and restricted his movement to areas in North Carolina, New York and California, where he has family. He faces five criminal charges, including unlawful use of confidential information, financial fraud and illegal monetary transactions.
According to Reuters, the Polymarket platform notified authorities of the suspicious activity and cooperated with the investigation. Meanwhile, a rival platform, Kalshi, had previously refused to open an account for Van Dyke due to identification requirements.
The US Army soldier who won $400,000 by using confidential information to bet on the ousting of Venezuelan President Nicolas Maduro, pleaded not guilty to fraud charges https://t.co/NZmIJ7OTO8 pic.twitter.com/aGjw0m10Mz
— Reuters (@Reuters) April 29, 2026
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