US soldier pleads not guilty to charges of gambling on Maduro ouster
Gannon Ken Van Dyke, a U.S. Army soldier, pleaded not guilty to charges of fraud related to insider betting on the ousting of Venezuelan President Nicolas Maduro. He allegedly used classified information to place bets on a prediction market, winning $400,000. This case marks the first instance of the Justice Department filing insider trading charges involving a prediction market.
- ▪Van Dyke is charged with using insider information to win money on Polymarket.
- ▪He faces five criminal counts including unlawful use of confidential government information.
- ▪The case has drawn attention as it is the first insider trading case involving a prediction market.
Opening excerpt (first ~120 words) tap to expand
Gannon Ken Van Dyke, a soldier who is charged with using his access to classified information about the operation to capture Venezuelan President Nicolas Maduro in January to win money on Polymarket, walks near a federal court building in New York on Tuesday. AP-YonhapNEW YORK — The U.S. Army soldier charged with winning $400,000 by using insider information to bet on the removal of ousted Venezuelan President Nicolas Maduro pleaded not guilty to fraud charges on Tuesday.Gannon Van Dyke, 38, entered the plea before U.S. District Judge Margaret Garnett's courtroom in Manhattan.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Korea Times.
Discussion
0 commentsMore from Korea Times
