President Donald Trump addressed concerns about potential insider trading in global betting markets after being asked on Thursday about suspected wagering tied to the Iran conflict, following a case involving a U.S. Special Forces soldier accused of using classified information to bet on a raid targeting Venezuelan leader Nicolás Maduro.
Trump responded to a reporter’s question in the Oval Office about insider trading and global betting markets tied to the Iran conflict. He stated:
Well, you know, the whole world, unfortunately, has become somewhat of a casino. And you look at what’s going on all over the world, in Europe and every place, they’re doing these betting things, I was never much in favor of it. I don’t like it conceptually, but it is what it is. No, I think that I’m not happy with any of that stuff. But they have all these different sites. They have predictive markets. It’s a crazy world. It’s a much different world than it was.”
The president also made a remark about betting on one’s own team, saying, “If he bet against his team that would be no good, but he bet on his own team. I’ll look into it.”
Trump’s comments follow reporting that Gannon Ken Van Dyke, a U.S. Special Forces soldier, has been charged for allegedly using classified information to place bets on a military raid targeting Maduro. According to the Justice Department, Van Dyke placed approximately $33,034 in wagers on the prediction platform Polymarket and allegedly earned about $409,000 while participating in the planning and execution of the operation. Prosecutors charged him with multiple offenses, including unlawful use of confidential government information, fraud, and illegal financial transactions.
Regulators, including the Commodity Futures Trading Commission, have also pursued civil action, seeking penalties and restrictions. Polymarket stated it referred the case to authorities after identifying suspicious trading tied to nonpublic information.
Tensions involving Iran remain ongoing. On Thursday, Trump ordered the U.S. Navy to “shoot and kill any boat, small boats though they may be… that is putting mines in the waters of the Strait of Hormuz,” while also extending the ceasefire as the United States awaits a “unified proposal” from Iran. On Wednesday, he said the eight women who “were going to be executed… will no longer be killed,” adding that “four will be released immediately, and four will be sentenced to one month in prison,” following his request to the Iranian government.
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