Judge stays CFTC’s case against US soldier over prediction market bets
Summary
A federal judge stayed the CFTC’s civil case against US Army Special Forces Master Sergeant Gannon Ken Van Dyke until the related criminal case is resolved. Prosecutors alleged Van Dyke used nonpublic information from his role in a January operation involving Nicolás Maduro to make more than $400,000 trading Polymarket event contracts tied to Maduro’s removal. Both cases were filed in April, and the stay means the civil enforcement action will pause while the criminal case continues. Van Dyke has pleaded not guilty and is challenging the indictment, arguing in part that CFTC treatment of event contracts as swaps is unclear. The case could affect future enforcement involving prediction markets and government officials.
