After previous repeated warnings to market participants that it was monitoring prediction markets for insider trading and manipulation,[1] the Commodities Futures Trading Commission (CFTC or Commission) sent a clear message on April 23 that insider trading will not be tolerated in prediction markets. The Commission brought its first case charging insider trading in prediction markets.

The CFTC charged active-duty US Army Special Forces Master Sergeant Gannon Ken Van Dyke on April 23, 2026, with fraud and manipulation, insider trading by a government employee, and theft and misappropriation of nonpublic government information, alleging that Van Dyke used classified nonpublic government information to trade on an overseas prediction…