U.S. service member allegedly earned over $1 million betting on Iran and Venezuela conflicts
A member of the U.S. armed forces is expected to be charged after reportedly winning more than $1 million on Polymarket by wagering on upcoming actions against Iran and Venezuela.
Federal investigators are preparing to bring charges against an unnamed U.S. military personnel who allegedly amassed more than $1 million by placing wagers on Polymarket about imminent U.S. actions involving Iran and Venezuela. The individual’s identity and the specific operations referenced have not been released. This investigation follows an April indictment of an Army special-forces member accused of earning $400,000 by betting on the capture of Venezuelan President Nicolás Maduro, with prosecutors alleging misuse of classified information, wire fraud and money laundering.
In a related episode, a former teleprompter operator for President Donald Trump was placed on leave after winning $100,000 on the Kalshi platform by forecasting speech content. The Justice Department, which has pursued the earlier case, is now targeting the new suspect, highlighting a pattern of alleged insider trading on prediction markets by government employees.
Why it matters
It shows potential abuse of classified information for personal profit, raising concerns about security and market integrity.
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