TLDR Army Special Forces soldier Gannon Ken Van Dyke is set for trial on Dec. 7 in a landmark Polymarket insider trading case He is accused of using classified military information to place 13 bets, earning over $400,000 The information allegedly related to the operation that led to the capture of Venezuelan President Nicolás Maduro Defense lawyers plan to file a dismissal motion by July 31, arguing the case relies on classified info that can’t be fully aired in court A separate case last month charged a Google employee with similar Polymarket insider trading, earning $1.2 million The Case Against Van Dyke
A federal judge has tentatively set December 7 as the trial date for U.S. Army Special Forces Master Sgt. Gannon Ken Van Dyke. He faces charges in what could be the first insider trading case tied to a prediction market to go before a jury.
Prosecutors say Van Dyke placed 13 bets on Polymarket using classified information about the military operation that captured Venezuelan President Nicolás Maduro. They claim he made more than $400,000 from those trades.
He was also accused of attempting to destroy evidence after collecting his winnings. Prosecutors say this shows he knew the trades were improper.
Van Dyke pleaded not guilty in April. He is currently on leave from the Army and free on a $250,000 personal recognizance bond.
During Monday’s hearing, prosecutors said they had nearly finished sharing evidence with the defense. They estimate their case will take about a week to present.
The defense expects to present their side in just a couple of days.
Defense Strategy and Legal Hurdles
Defense attorney Mark Geragos argued that the case faces serious challenges. He said proving the charges would require revealing sensitive government decision-making.
Geragos suggested the government would need to