U.S. Prepares Case Against Service Member Over Secret Betting Profits: WSJ
The Wall Street Journal, citing informed sources, reports that U.S. officials are preparing a case against a service member who, according to the report, made more than $1 million from bets linked to possible U.S. attacks on Iran and Venezuela.
According to the report, investigators are examining the possible illegal use of inside information by the service member. It is said he used that information to place successful bets on the Polymarket platform and could face formal charges next fall.
The Wall Street Journal added that the case is being reviewed at a time when Galen Kane Van Dyke, another U.S. service member, had previously been accused of betting on a U.S. attack on Venezuela and the kidnapping of Nicolás Maduro. He faces charges including the unlawful use of confidential government information for personal gain, theft of confidential information, fraud and conducting illegal financial transactions, and could face up to 60 years in prison.
The report also said that Gabriel Perez, a former White House employee, was ordered to pay $165,000 over illegal bets on speeches by Donald Trump, the U.S. president. According to sources, he had access to the text or content of those speeches before they were delivered and used that information illegally.
Polymarket is a prediction-based betting platform where users wager money on political, economic and public events. The new allegations have once again highlighted the issue of misuse of confidential information within U.S. institutions.
