CFTC Charges Army Service Member Gannon Van Dyke with Insider Trading on Polymarket Event Contracts

Release Number 9217-26

CFTC Charges U.S. Service Member with Insider Trading in Nicolás Maduro-Related Event Contracts

April 23, 2026

WASHINGTON — The Commodity Futures Trading Commission today announced it has filed a complaint in the U.S. District Court for the Southern District of New York against Gannon Ken Van Dyke of North Carolina.  The complaint alleges that Van Dyke, who is an active-duty service member in the U.S. Army, engaged in insider trading on Polymarket.com using classified nonpublic information regarding U.S. operations to capture former Venezuelan President Nicolás Maduro and his wife, Cilia Flores (“Operation Absolute Resolve”).

In the complaint, the CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations, as charged.

“I have been crystal clear that anyone who engages in fraud, manipulation, or insider trading in any of our markets will face the full force of the law,” said Chairman Michael S. Selig.  “The defendant was entrusted with confidential information about U.S. operations and yet took action that endangered U.S. national security and put the lives of American service members in harm’s way.”

“All members of the government, including service members, owe a duty of trust and confidentiality to the government and the American people,” said Director of Enforcement David I. Miller. “The defendant abused that trust by misappropriating extremely sensitive information regarding U.S. military operations, and by doing so, placed the lives and security of our service members at risk.  This case marks the first time the CFTC has charged insider trading involving event contracts, and the first time the CFTC has used the so-called ‘Eddie Murphy Rule’ to bring charges based on the misuse of government information.  The Division will continue to be vigilant in policing the illegal use of inside information in the prediction markets and other markets within the CFTC’s jurisdiction.  As Chairman Selig and I have made clear, we will not tolerate insider trading in our markets, period.”

Case Background

According to the complaint, from at least December 2025 through January 2026, Van Dyke was involved in the planning and execution of “Operation Absolute Resolve.”  As a result of this involvement, Van Dyke acquired nonpublic classified or sensitive information concerning the “Operation.”  As a service member, Van Dyke owed to the U.S. government and the American people a duty of trust and confidentiality. In violation of those duties, between December 30, 2025, and January 2, 2026, Van Dyke used that information to purchase more than 436,000 “Yes” shares of the “Maduro Out by January 31, 2026?” contract listed on Polymarket.com.  The complaint alleges that Van Dyke, who used the Polymarket handle “Burdensome-Mix,” generated more than $404,000 in profits through his trading.

Parallel Criminal Action

On April 23, 2026, the U.S. Attorney’s Office for the Southern District of New York announced the unsealing of an indictment against Van Dyke in the same court alleging conduct similar to that alleged in the CFTC’s complaint.

The CFTC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York.

-CFTC-

RELATED LINKS

• Complaint: Gannon Ken Van Dyke