Attorneys for the U.S. Army special forces soldier who was charged with using classified information about the capture of Venezuelan President Nicolas Maduro to make more than $400,000 on the prediction market Polymarket are returning to a Manhattan courtroom Monday.
Master Sgt. Gannon Ken Van Dyke pleaded not guilty in April after prosecutors alleged he used inside information to place 13 bets on the outcome of the Maduro raid then attempted to destroy evidence of the trades after he pocketed more than $400,000.
U.S. District Judge Margaret Garnett scheduled the status conference to follow up on pre-trial issues, including the turning over of evidence that began last month.
During Van Dyke’s arraignment in April, his defense attorney said he expected few factual disputes over the allegations in the case and believed that the prosecution would “largely rise and fall” on pre-trial motions.
A picture of Gannon Ken Van Dyke, posted on his Facebook social media account.
Gannon Ken Van Dyke/Facebook
Van Dyke, an experienced special forces soldier, was released on a $250,000 personal recognizance bond. According to his attorney Zach Intrater, he is currently on leave from the Army.
As allegations of insider trading prompt public scrutiny of sites like Polymarket and Kalshi, the Van Dyke prosecution is believed to be the first case of insider trading on a prediction market.
Prosecutors in New York last month also charged a Google employee with using confidential company information to make more than $1.2 million on Polymarket.
