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Why a $400,000 windfall has raised concerns of insider trading on prediction markets
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Why a $400,000 windfall has raised concerns of insider trading on prediction markets

The Indian Express·Anagha Jayakumar·about 1 month ago
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The US Army soldier who made over $400,000 by betting on several outcomes related to the US military operation that deposed Nicolas Maduro as Venezuela’s president was arrested on Thursday (April 23). He has been charged with insider trading for using classified information about the mission to place bets on Polymarket, a prediction marketplace. According to the Department of Justice (DoJ), Gannon Ken Van Dyke allegedly placed trades as late as January 2 on the crypto-powered platform using what it deemed as classified information. The soldier had placed bets, not only on whether Maduro would be ousted, but also that US forces would be in Venezuela by the end of January, and that Trump would invoke war powers against Venezuela. The DoJ accuses Van Dyke of misappropriating “classified, nonpublic U.S. Government information about a U.S.…

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