US Attorney for the Southern District of New York announced Thursday that Gannon Ken Van Dyke is in custody, facing several charges including using confidential government information for personal gain.
The indictment alleges Van Dyke was directly involved in planning and execution of 'Operation Absolute Resolve' to capture Venezuelan President Nicolas Maduro.
Prosecutors claim Van Dyke made several transactions purchasing $33,934 worth of 'YES' shares on Maduro-related markets, profiting $409,881 before trying to cover his tracks by deleting his Polymarket account and changing his email address.
Prior to the arrest, Polymarket tweeted that it had enhanced market integrity rules to combat insider trading and cooperated with the DOJ's investigation.
US Attorney Jay Clayton stated, 'Prediction markets are not a haven for using misappropriated confidential or classified information for personal gain.'