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The Guardian World1 min read
US soldier involved in Maduro raid charged over alleged bets on capture
TL;DR
A US soldier, Gannon Ken Van Dyke, has been charged for allegedly placing over $400,000 in bets on the capture of Venezuelan president Nicolás Maduro. He faces charges of commodities and wire fraud, and could face up to 60 years in prison.
Key points
- US soldier Gannon Ken Van Dyke charged with fraud
- Allegedly placed over $400,000 in bets on Maduro's capture
- Faces up to 60 years in prison for his actions
Mentioned in this story
Gannon Ken Van DykeNicolás MaduroVenezuela
A US soldier who played a role in the January capture of Venezuelan president Nicolás Maduro is now in custody after allegedly cashing in over $400,000 on wagers about the politician’s removal from office, federal authorities announced on Thursday.
Prosecutors say beginning in early December the soldier, Gannon Ken Van Dyke, was involved in planning for the military operation to capture and depose Maduro.
Between early December and early January, Van Dyke allegedly placed 13 bets on Polymarket, a popular prediction market, related to American forces invading Venezuela and taking its head of state.
Van Dyke has been charged with commodities and wire fraud in addition to unlawful use of confidential government information for personal gain, according to the Department of Justice (DoJ). He is facing up to 60 years in prison.
In the news release, FBI assistant director in charge James C Barnacle Jr rebuked Van Dyke’s alleged betting, calling it a betrayal to his fellow soldiers.
“Our men and women in uniform are trusted with classified information in order to accomplish their mission as safely and effectively as possible, and are prohibited from using this highly sensitive information for personal financial gain,” acting attorney general Todd Blanche said in a statement.
“This involved a US soldier who allegedly took advantage of his position to profit off of a righteous military operation,” FBI director Kash Patel wrote on social media. “Investigation ongoing.”
Polymarket said in a social media statement the company had referred a user trading on classified government information to the DoJ.
“Insider trading has no place on Polymarket. Today’s arrest is proof the system works,” the company wrote.
The news came a day after three US congressional candidates were fined by a different prediction market site, Kalshi, for placing bets on the outcome of their races. One of the candidates, former reality TV contestant and Virginia Senate hopeful Mark Moran, claimed he placed the wager to prove a point.
Kalshi’s sanctions appeared to be a move to appease lawmakers, who have been considering legislation to curtail any government employees who may seek to profit from classified information.
Q&A
What charges is Gannon Ken Van Dyke facing?
Gannon Ken Van Dyke is charged with commodities and wire fraud, as well as unlawful use of confidential government information.
How much money did the soldier allegedly bet on Maduro's capture?
The soldier allegedly placed over $400,000 in bets related to the capture of Nicolás Maduro.
What is the potential prison sentence for the soldier?
He is facing up to 60 years in prison if convicted.
