Summary
A US Army special forces master sergeant has entered a plea of not guilty to federal charges that he illegally traded on classified details concerning the operation to seize former Venezuelan president Nicolas Maduro. Federal prosecutors say the defendant placed wagers on prediction market Polymarket and netted about $400,000 from bets tied to whether Maduro would be removed from power.
Case and Court Appearance
The defendant, identified by prosecutors as Gannon Ken Van Dyke, 38, appeared before US District Judge Margaret Garnett in Manhattan on Tuesday and pleaded not guilty. Authorities allege Van Dyke took part in the planning and execution of the operation that resulted in Maduro's capture and then used nonpublic, classified information for trading activity on Polymarket.
Allegations of Trading Activity
Prosecutors detail that Van Dyke created and funded a Polymarket account around Dec. 26. From Dec. 27 through the evening of Jan. 2, he is said to have made approximately 13 trades, each taking a "YES" position on contracts related to whether Maduro would be removed as Venezuela's leader. The charges assert that hours after Maduro's Jan. 3 capture, Van Dyke uploaded a photograph to his Google account that appears to show him on a ship deck at sea, wearing US military fatigues and carrying a rifle.
On the same day as the alleged capture, prosecutors claim Van Dyke cashed out his Polymarket positions, transferred the proceeds to a foreign cryptocurrency vault, and requested that Polymarket delete his account.
Pretrial Release and Conditions
Van Dyke was ordered released on a $250,000 personal recognizance bond, which must be co-signed by one financially responsible person. His travel will be limited to portions of North Carolina, New York and California. Defense attorneys representing him are Zach Intrater and Mark Geragos. Intrater told the court that Van Dyke is on leave from the military.
Polymarket Cooperation
Following the filing of the charges, Polymarket stated it cooperated with investigators after identifying a trader it believed had used classified information, and it referred the matter to authorities.
Context and Limitations
The details presented reflect the allegations and procedural actions described in the charging documents and during the arraignment. The defendant has pleaded not guilty and the factual assertions in the prosecution's account are subject to legal process.