CFTC clashed with a US soldier over a bet of $400,000 Polymarket
2026-08-25 12:54:54
According to CoinMeta, CFTC filed a criminal lawsuit against US soldier Gannon Ken Van Dyke on August 24, regarding bets placed by the latter on Polymarket. The lawyer for Van Dyke opposed the court opinion submitted by CFTC, arguing that Gannon Ken Van Dyke is attempting to maintain its regulatory authority through criminal prosecution, while the parallel civil lawsuit remains on hold. Judge Margaret Garnett rejected the request to exclude this opinion, stating that the court would give "appropriate consideration" to CFTC's arguments. Van Dyke pleaded not guilty to the charges related to bets with Polymarket, and CFTC requested a response to Van Dyke's arguments, claiming that the contracts related to Venezuela's Polymarket were bets and not swaps regulated by commodity trading laws. Van Dyke faces multiple charges including commodity fraud and electronic fraud. CFTC filed a parallel civil lawsuit on April 23, which is its first insider trading case involving contracts related to predictive market events.
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Source:Cryptonews
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