Pentagon bans US forces from using military info to bet in prediction markets
Hegseth warned that prediction market wagers could expose military operations to adversaries.
Pentagon Chief Pete Hegseth has prohibited all U.S. military personnel from using confidential information to wager on prediction markets, according to a memo sent to senior defense agencies on Tuesday. Hegseth explained that adversaries closely monitor these markets, and the lives of service members depend on the enemy not anticipating military actions.
Financial incentives can also cloud judgment, as personnel with a stake in the outcome may be motivated to influence the result. This directive follows the indictment of Army soldier Gannon Ken Van Dyke in April, who allegedly used classified information to earn over $400,000 on Polymarket by betting on the capture of Venezuelan leader Nicolás Maduro.
Van Dyke is accused of participating in the operation and using his advance knowledge to place bets. In February, Israeli authorities arrested a military reservist and a civilian for allegedly using classified information to place bets on Polymarket about Israeli military strikes on Iran.
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