Skip to main content
Grafa
Law and legal
CFTC and soldier clash over Polymarket rules
Image for illustrative purposes only. Not a real photo.

CFTC and soldier clash over Polymarket rules

Share
  • The CFTC is seeking to weigh in on a criminal case involving a US soldier’s Polymarket trades.
  • The soldier allegedly made more than US$400,000 using nonpublic information.
  • The dispute could affect how US authorities interpret event contracts on prediction markets.

The US Commodity Futures Trading Commission is seeking to influence a criminal case involving a soldier accused of illegal Polymarket trades.

Gannon Ken Van Dyke allegedly made more than US$400,000 trading contracts tied to Venezuela’s leadership change in January.

His lawyers oppose the CFTC’s request to file an amicus brief, arguing that the regulator has its own civil case against Van Dyke.

The defence also disputes the CFTC’s view that Polymarket event contracts fall under its authority as swaps.

A federal judge has stayed the CFTC’s civil case pending the outcome of Van Dyke’s criminal proceedings, with a trial potentially starting in late 2026 or early 2027.

US authorities charged Van Dyke with fraud in April over allegations that he traded using nonpublic information about a US operation involving Venezuelan President Nicolás Maduro.

The case has become a focus for lawmakers and critics examining potential manipulation risks on prediction markets including Polymarket and Kalshi.

Frequently asked questions