US soldier arrested, charged with using inside info to win $400K bet on Maduro's seizure

A US soldier has been charged with using inside information to win $400,000 in an online betting market on the Venezuelan President Maduro's seizure. (Photo/Reuters)

A US soldier has been charged with using inside information to win $400,000 in an online betting market on the Venezuelan President Maduro's seizure, federal officials announced.

Federal authorities said on Thursday that Gannon Ken Van Dyke "bet a total of approximately $33,034" on the Maduro operation and made more than $409,000 from his bets placed on the raid, according to an unsealed indictment.

Authorities said Van Dyke had insider information on the raid because he "participated in the planning and execution" of the US military operation to seize Maduro.

He has been charged with unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction.

'Outsized trade'

Polymarket is one of the most prominent prediction markets for bettors, and investigators said the "outsized trade" caught the attention of law enforcement right away.

According to the investigation, the trader opened an account in late December on Polymarket and "bet a total of approximately $33,034" that Maduro would be "out" by January.

Shortly after the bet was placed, the US launched a covert military operation that captured Maduro and his wife from their presidential compound in the capital Caracas and extradited them to New York to face federal drug-trafficking charges.

Following Van Dyke's arrest, federal officials emphasised the severity of his alleged crimes.

"Today's announcement makes clear no one is above the law, and this FBI will do whatever it takes to defend the homeland and safeguard our nation's secrets," FBI Director Kash Patel said in a statement.

Source: TRT