A federal judge on Monday set a tentative trial date for the soldier who was charged with using classified information to profit from bets on Polymarket related to the military operation that resulted in the capture of former Venezuelan dictator Nicolas Maduro.
The trial of Master Sgt. Gannon Ken Van Dyke has been scheduled for Dec. 7.
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Van Dyke allegedly pocketed at least $400,000 after making a series of bets in the days leading up to the raid. He allegedly ultimately predicted when the mission to capture Maduro would take place because of his access to classified information on the operation.
Insider trading is illegal under federal law, especially for military service members with access to classified information.
The Justice Department charged Van Dyke with the alleged unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction. In late April, the defendant pleaded not guilty to the charges.
During the latest court hearing held by U.S. District Judge Margaret Garnett in New York, Van Dyke’s defense lawyers indicated they plan to file a motion to dismiss the grand jury indictment by July 31.
If the case proceeds to a December trial, federal prosecutors estimated their case will take about one week. The defense lawyers said their case will last a “couple of days.”
Garnett is the same judge presiding over the federal trial of Luigi Mangione, who was charged with murdering UnitedHealthcare CEO Brian Thompson in December 2024. Mangione is set to go to trial, starting Jan. 25, 2027, after Garnett oversees Van Dyke’s trial.
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The next status conference in the prediction markets case is scheduled for Sept. 28.
This is the first federal prosecution of insider trading on a prediction market to go to trial. The case comes as Polymarket and Kalshi face growing scrutiny from Congress, which may soon be weighing legislation to regulate the betting platforms.
