According to ME News, on August 11 (UTC+8), U.S. District Judge Andrew Carter of the Southern District of New York ordered a stay of the civil case brought by the Commodity Futures Trading Commission (CFTC) against U.S. Army Special Forces Master Sergeant Gannon Ken Van Dyke, pending the outcome of the related criminal case. The prosecution filed a motion to stay in July. Van Dyke is accused of using non-public information to profit over $400,000 on event contracts on Polymarket related to the potential downfall of Venezuelan President Nicolás Maduro. The U.S. Department of Justice alleges that he participated in efforts to overthrow Maduro in January this year. Both the criminal and civil cases were filed in April. Van Dyke has pleaded not guilty to all charges and has moved to dismiss the criminal indictment; the case may first go to trial as early as late 2026 or early 2027. (Source: ODAILY)
U.S. Court Halts CFTC Civil Case Against Army Sergeant Major Over Alleged Insider Trading
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On August 11, U.S. District Judge Andrew Carter stayed the CFTC’s civil case against Army Sergeant Major Gannon Ken Van Dyke pending a related criminal investigation. Van Dyke is accused of using non-public intelligence to increase trading activity on Polymarket, earning over $400,000 from bets tied to a potential regime change in Venezuela. The Department of Justice alleges he was involved in a plot to remove President Nicolás Maduro. Both criminal and civil charges were filed in April. Van Dyke denies the allegations and has requested dismissal of the criminal case. A trial could begin as late as 2027. The case has attracted significant attention due to its implications for trading volume in political futures markets.
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