CFTC, US soldier accused of illegal Polymarket bet spar over interpretation of prediction markets
Summary
Gannon Van Dyke, a soldier accused of making more than $400,000 by trading Polymarket event contracts using nonpublic information, is opposing the CFTC’s bid to file an amicus brief in his criminal case. His lawyers argue the regulator is trying to influence the case indirectly instead of pursuing its own claims, including whether Polymarket-style event contracts qualify as “swaps” under CFTC authority. US prosecutors charged Van Dyke with fraud in April over trades tied to information about Venezuelan President Nicolás Maduro’s possible removal. He has pleaded not guilty. A judge already stayed the CFTC’s civil case pending the criminal proceeding, and a trial may not begin until late 2026 or early 2027.
