CFTC Polymarket case paused over soldier’s $400K bets

A federal judge has paused the CFTC’s civil case against a US Army soldier accused of using classified information to earn more than $400,000 from Polymarket contracts tied to Nicolás Maduro’s removal. Summary Judge Andrew Carter stayed the CFTC’s civil enforcement case until the related criminal proceeding concludes. Prosecutors allege Gannon Van Dyke earned about $409,881 from 13 Venezuela-related Polymarket trades. Van Dyke pleaded not guilty and has challenged whether the event contracts legally qualify as swaps. The prosecution could shape how US commodities and fraud laws apply to prediction-market insider trading. CFTC case paused until criminal proceedings conclude US District Judge Andrew Carter granted prosecutors’ request on Aug. 10 to stay the Commodity Futures Trading Commission’s civil case against Gannon Ken Van Dyke, an active-duty US Army Special Forces master sergeant. The civil proceeding will remain paused while the Justice Department pursues its criminal case over substantially the same alleged conduct. Prosecutors asked for the stay in July, arguing that allowing both matters to advance could create complications because they involve overlapping evidence, witn...