A U.S. Army special forces soldier is accused of earning $400,000 from bets placed on the capture of former Venezuelan leader Nicolás Maduro – an operation prosecutors say he was involved in – and allegedly told a woman he was texting at the time that “the Army doesn’t understand business.”
Gannon Ken Van Dyke, 38, and companies tied to him purchased at least eight homes in North Carolina, and he had told acquaintances he was working to expand his business interests as he prepared for life after the military, according to property records obtained by the Wall Street Journal.
At the same time, Van Dyke, who was stationed at Fort Bragg near Fayetteville, allegedly placed 13 bets totaling about $33,000 on the prediction platform Polymarket, wagering that Maduro would be removed from power by the end of January 2026 – an outcome prosecutors say he anticipated based on classified information from the operation.
When “Operation Absolute Resolve” succeeded on January 3, those bets paid off, earning him more than $400,000 in profits, authors say.
Prior to being charged by federal prosecutors Thursday, Van Dyke messaged Gianna Lutz, of Greenville, S.C., on Facebook last year, expressing romantic interest, she told WSJ.
The soldier, who public records show was married as of late February, per the outlet, told Lutz that he started a company, managed rental properties and flipped houses.
“Civilians don’t get the army stuff,” Van Dyke allegedly texted Lutz, according to messages reviewed by the outlet. “Army people don’t get the business stuff.”
Van Dyke allegedly moved most of his profits into a foreign cryptocurrency account and later asked Polymarket to delete his account, according to Manhattan U.S. Attorney Jay Clayton.
Van Dyke has not commented on these latest reports.
Lutz further alleged that Van Dyke appeared focused on creating multiple income streams and planned to retire from the military soon while transitioning into part-time real estate work.
“Honestly though, I don’t think it will keep me busy enough so I’m working on launching a tech consulting firm,” Van Dyke texted Lutz, per WSJ.
Lutz said she communicated with Van Dyke via text and phone but never met him in person, noting that he contacted her as recently as last weekend.
She described him as “put-together,” portraying him as a driven businessman and dedicated father who enjoyed outdoor activities like hiking and scuba diving.
According to Lutz, Van Dyke never mentioned any major financial gains during their conversations this year, though he did allude to being involved in something “all over the news a couple months ago” and getting to meet the president.
“It was definitely the sketchiest thing I have ever had to do,” he texted Lutz about his experiences, the WSJ reports.
Van Dyke was charged Thursday in Manhattan federal court with multiple crimes, including wire fraud, commodities fraud, theft of government information, and unlawful use of classified intelligence. If convicted, he faces up to 60 years in federal prison.
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