A U.S. military soldier who illegally profited $400k on Polymarket was denied an account opening by Kalshi.

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Odaily Star Daily News reports that U.S. Army Special Forces Sergeant Gannon Van Dyke has been indicted for allegedly using classified military information to profit illegally by trading in coded language about the reported arrest of Venezuelan President Maduro on the prediction market platform Polymarket, with illegal gains exceeding $400,000. Notably, Van Dyke previously attempted to open an account on the competing platform Kalshi, but was rejected due to failed identity verification and a KYC review. Polymarket said it has proactively reported its suspicious trading behavior to law enforcement and has fully cooperated with the investigation. This case is regarded as the first major criminal insider trading case in the prediction market sector, and it has again drawn attention to insider trading risks on prediction platforms. (BusinessInsider)

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