Active-duty U.S. Army soldier Gannon Ken Van Dyke, accused of using classified military intelligence to place winning wagers on the prediction market Polymarket, is set for trial on Dec. 7 in Manhattan federal court. Van Dyke pleaded not guilty in April to five federal charges, including commodities fraud, wire fraud, and unlawful monetary transactions, related to bets on the capture of Venezuelan President Nicolás Maduro. Prosecutors allege he made $410,000 profit from a $33,000 investment over seven days in late December, and later requested deletion of his Polymarket account to cover his tracks. This case marks the U.S. government's first insider trading prosecution involving a prediction market, highlighting increased scrutiny on such platforms. The CFTC filed a separate complaint, with Chair Mike Selig warning that insider trading and fraud will be prosecuted fully. Van Dyke's defense plans to file a motion to dismiss by end of next month.

Key facts

• Trial set for Dec. 7 in Manhattan federal court.
• Van Dyke pleaded not guilty to five federal charges in April.
• Made $410K profit from $33K investment on Maduro capture bets.
• First insider trading case involving a prediction market.
• Defense to file motion to dismiss by end of next month.