CFTC clashes with U.S. soldier over $400K Polymarket bet

The CFTC entered the criminal Polymarket case against U.S. Army soldier Gannon Ken Van Dyke on Aug. 24 after a federal judge granted the regulator permission to file an amicus brief. Summary Judge Margaret Garnett allowed the CFTC to file its contested amicus brief on August 24. Van Dyke may answer new CFTC arguments through a ten-page filing due September 9, 2026. Prosecutors allege thirteen Polymarket wagers generated approximately $409,881 using classified information before Maduro’s capture. The defense argues geopolitical event contracts are bets rather than swaps governed by federal commodities law. CFTC civil proceedings remain stayed pending resolution of the related federal criminal prosecution in Manhattan. Van Dyke’s lawyers had opposed the request. They argued that the CFTC was attempting to defend its regulatory authority through the criminal prosecution while its parallel civil lawsuit remained paused. Judge Margaret Garnett rejected the request to exclude the brief but said the court would give the regulator’s arguments “appropriate weight.” Van Dyke has pleaded not guilty to charges arising from Polymarket wagers that allegedly generated $409,881. CFTC can defend it...