U.S. Defense Secretary Bans Pentagon Personnel from Betting on Military Information

U.S. Defense Secretary Pete Hegseth has prohibited Pentagon and defense agency personnel from using non-public information to place bets, including trading on prediction market platforms such as Kalshi and Polymarket. The ban covers both classified and unclassified information, stating that betting in prediction markets could expose military operations and affect operational security and personnel judgment. This directive comes after U.S. Army soldier Gannon Ken Van Dyke was accused in April of using classified information related to the capture of Venezuelan leader Nicolás Maduro to place bets on Polymarket, profiting over $400,000. Prosecutors claim he participated in planning and executing the operation, while Van Dyke has pleaded not guilty to all charges. In February of this year, Israeli authorities arrested and charged a military reservist and a civilian for allegedly using classified information to bet on the outcomes of Israel's military strikes against Iran on Polymarket.

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