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Soldier, Swaps, and Secret Trades | Bitcoin and Crypto News
Description
A federal judge in New York has paused a civil case brought by the CFTC against U.S. Army Master Sergeant Gannon Ken Van Dyke, who allegedly made over $400,000 trading on prediction markets using inside info about a Venezuelan political operation. The civil suit, which questions whether prediction market contracts qualify as “swaps,” is now on hold until his criminal trial — potentially starting late 2026 or early 2027 — concludes. Prosecutors allege Van Dyke exploited nonpublic knowledge of a planned coup against Nicolás Maduro on Polymarket, raising big questions about how lawmakers and government insiders interact with these emerging financial platforms. His not-guilty plea and legal challenge to the CFTC’s classification could reshape the future of prediction markets and insider trading enforcement.
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