Dec. 7 Trial Set for Soldier Accused of Polymarket Insider Trading
Van Dyke pleaded not guilty in April to charges that he placed 13 bets using inside information tied to the Maduro operation, and subsequently attempted to destroy evidence after collecting his profits. The case could become the first US insider-trading prosecution involving a prediction market to reach trial.
Prosecutors, according to media, said they had "substantially completed" evidence disclosure and expect their case to take about a week. Defense lawyers said their case would take a "couple of days" and plan to seek dismissal of the indictment by July 31.
Defense attorney Mark Geragos contended that the classified nature of the evidence at the heart of the case would make prosecution exceptionally difficult, arguing that prosecutors would need to prove "who was in the Situation Room at that time and who made the decision" to capture Maduro.
Van Dyke, who remained silent throughout Monday's hearing, is currently free on a $250,000 personal recognizance bond and on leave from the Army, according to attorney Zach Intrater.
Following the proceedings, Geragos dismissed the prosecution as an "exercise in futility."
"There's only one person who could have ordered the operation -- that one person is the president. They are never, ever going to get the president to divulge when and how and what, so this is just an exercise in futility," Geragos argued.
The case lands amid intensifying scrutiny of prediction markets more broadly. Last month, New York prosecutors charged a Google employee with using confidential company information to generate more than $1.2 million in profits on Polymarket — signaling that regulators are increasingly setting their sights on the rapidly growing sector.
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