Judge stays CFTC’s case against US soldier over prediction market bets
A New York judge granted a motion filed by US prosecutors in July to stay the CFTC’s civil case against Gannon Ken Van Dyke over making more than $400,000 on prediction markets.
A New York judge has granted a motion to stay the CFTC's civil case against Gannon Ken Van Dyke, a US Army Special Forces Master Sergeant, over his alleged profits from prediction market bets on Venezuelan President Nicolás Maduro's removal. The order was made pending the outcome of Van Dyke's criminal case. Van Dyke allegedly made more than $400,000 on Polymarket event contracts tied to Maduro's removal.
The criminal and civil cases were both filed in April and could have implications for lawmakers and government officials using prediction markets. Van Dyke has pleaded not guilty and is potentially facing a criminal trial in late 2026 or early 2027. He has also filed a motion to dismiss the criminal indictment on various legal grounds, including the CFTC's enforcement of event contracts as "swaps" on prediction markets being ambiguous.
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