Published: April 29, 2026 1:12 pm
Author: RT
RT examines how prediction markets are fueling concerns over the misuse of non-public information
A US Special Forces soldier accused of making more than $400,000 by betting on a secret military operation pleaded not guilty in court on Tuesday. The case has highlighted growing concerns over prediction markets turning geopolitical events into opportunities for insider profit.
Master Sergeant Gannon Ken Van Dyke is accused of using classified information about the US raid in January to kidnap Venezuelan President Nicolas Maduro to place around $33,000 in bets on Polymarket, where he reportedly won around $400,000.
The case is the first US criminal prosecution linking insider trading to prediction markets – platforms where users bet on real-world events such as elections and conflicts.
Van Dyke faces charges including fraud and unlawful use of confidential government information, and has been released on bond with travel restrictions while awaiting trial. His lawyer called the allegations “not a crime” and described his client as an “American hero.”
READ MORE: US special forces soldier arrested after ‘winning $400k on Venezuela raid bet’
US President Donald Trump has slammed insider trading, saying “the whole world… has become somewhat of a casino.” His son, Donald Trump Jr., has financial ties to the sector as a shareholder in Polymarket.
RT’s Murad Gadziev reports on how these platforms work – and why regulators are increasingly concerned about their potential for abuse.
