WASHINGTON, April 24, 2026 — The U.S. Commodity Futures Trading Commission said it filed a complaint in the U.S. District Court for the Southern District of New York against North Carolina resident Gannon Ken Van Dyke, alleging he engaged in insider trading on Polymarket using classified nonpublic information regarding a U.S. operation involving former Venezuelan President Nicolás Maduro and Cilia Flores, according to a CFTC statement published Thursday.
First insider trading case involving event contracts
The regulator said Van Dyke, an active-duty U.S. Army service member, used confidential information related to “Operation Absolute Resolve” to trade Nicolás Maduro-related event contracts listed on Polymarket. The CFTC said it is seeking restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction for alleged violations of the Commodity Exchange Act and CFTC regulations.
Use of the “Eddie Murphy Rule”
CFTC Chairman Michael S. Selig said the agency would pursue fraud, manipulation and insider trading across markets under its jurisdiction. Director of Enforcement David I. Miller said the matter marked the first time the agency had charged insider trading involving event contracts and the first use of Section 4c(a)(4) of the Commodity Exchange Act, sometimes referred to as the “Eddie Murphy Rule,” in a case involving misuse of government information.
More than $404,000 in alleged profits
According to the complaint, Van Dyke participated in planning and execution activities connected to the operation from at least December 2025 through January 2026, giving him access to classified or sensitive nonpublic information. The CFTC alleged that between Dec. 30, 2025, and Jan. 2, 2026, he purchased more than 436,000 “Yes” shares in the “Maduro Out by January 31, 2026?” contract on Polymarket.
The agency alleged that Van Dyke, who used the Polymarket handle “Burdensome-Mix,” generated more than $404,000 in profits through the trades.
Parallel criminal charges unsealed in New York
Separately, the U.S. Attorney’s Office for the Southern District of New York announced the unsealing of a criminal indictment against Van Dyke based on conduct similar to that described in the CFTC complaint, the regulator said.
