The US soldier who allegedly used classified information to score $400,000 betting on the capture of Venezuelan dictator Nicolás Maduro looked every inch the part of a covert operative for court Tuesday.
Gannon Ken Van Dyke, 38, wore dark shades and a grimace along with his nondescript open-necked black shirt, navy blue blazer and gray slacks as he headed to Manhattan federal court to face charges of leveraging his inside access to win big on the prediction market Polymarket.
“Not guilty, your honor,” the accused master sergeant for the Army’s Special Forces told the judge during his arraignment.
The suspect was released on $250,000 bail, with his travel restricted to areas of North Carolina, New York and California, as he faces various charges, including the unlawful use of confidential government information for personal gain, wire fraud and money laundering.
Van Dyke’s arrest last week came amid broader scrutiny into prediction market apps such as Polymarket and Kalshi, which allow users to wager on future events ranging from when a war might erupt to how much snow will fall during a Big Apple blizzard.
“The whole world, unfortunately, has become something of a casino. I’m not happy with any of this,” President Trump said Friday when asked about the soldier’s arrest.
Trump’s media company Truth Social is preparing to launch its own market, “Truth Predict.”
Van Dyke is accused of illegally cashing in on his direct involvement in the planning and execution of Operation Absolute Resolve — the stunning Jan. 3 Special Forces raid on Maduro’s Caracas compound — to win more than $400,000 on Polymarket after betting around $33,000.
Starting around a week before the raid, the soldier made several wagers that US forces would enter Venezuela and that Maduro would be out of power by the end of January, court papers alleged.
As Van Dyke watched the action unfold while stationed at Fort Bragg in Fayetteville, NC, he made $409,000 from his bets on the action and later took steps to conceal his identity and winnings, placing his ill-gotten gains into foreign cryptocurrency accounts, prosecutors said.
At Tuesday’s hearing, Manhattan federal court Judge Margaret Garnett ordered the soldier to surrender his passport and firearms with his case pending.
Van Dyke’s lawyer, Zach Intrater, told the court that the solider is on “leave” yet still “associated with the military” for now.
Van Dyke and his lawyer declined to comment on the case outside the courthouse.
He is due back in court June 8.
