U.S. soldier Gannon Ken Van Dyke has been accused of using nonpublic information to trade event contracts on prediction market platform Polymarket tied to the January removal of Venezuelan President Nicolás Maduro, allegedly making more than $400,000. U.S. authorities charged him with fraud in April. The Commodity Futures Trading Commission had already filed a civil case against Van Dyke, but a federal judge paused that matter until the criminal case is resolved. The agency has since sought to file an amicus brief to present its view on whether the event contracts at issue fall within its jurisdiction as "swaps" and to address related arguments. Van Dyke’s lawyer pushed back in a filing submitted Monday to the U.S. District Court for the Southern District of New York, arguing that the CFTC should deal with its own case instead of stepping into the criminal proceedings. Van Dyke has pleaded not guilty to all charges. His criminal trial could begin as early as late 2026 or early 2027, according to the report.
Gannon Ken Van Dyke, a U.S. soldier, has been accused of using nonpublic information to trade event contracts on prediction market platform Polymarket tied to the January removal of Venezuelan President Nicolás Maduro, allegedly making more than $400,000.
According to Cointelegraph, U.S. authorities charged Van Dyke with fraud in April. The Commodity Futures Trading Commission (CFTC) had previously brought a civil case against him, but a federal judge ruled that the matter should be stayed until the outcome of the criminal proceedings is known.
CFTC bid to weigh in faces opposition
The CFTC sought permission to file an amicus brief to present its views on whether the event contracts fall within its regulatory scope as "swaps," along with related defense arguments.
On Monday, Van Dyke’s lawyer filed papers in the U.S. District Court for the Southern District of New York opposing the agency’s involvement in the criminal case, arguing that the CFTC should confront its own case directly.
Defendant pleads not guilty
Van Dyke has pleaded not guilty to all charges. His criminal trial could begin as early as late 2026 or early 2027.
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