A New York choose granted a movement filed by US prosecutors in July to remain the CFTC’s civil case towards Gannon Ken Van Dyke over making greater than $400,000 on prediction markets.
A federal choose ordered {that a} civil case initiated by the US Commodity Futures Buying and selling Fee (CFTC) be stayed pending the result of a felony case towards a US soldier who’s alleged to have used nonpublic data to revenue from a Polymarket occasion contract on the elimination of Venezuelan President Nicolás Maduro.
In a Monday ruling within the US District Court docket for the Southern District of New York, District Decide Andrew Carter granted a movement filed by prosecutors in July to remain the CFTC’s civil case “pending the result of the felony continuing.”
The circumstances towards Gannon Ken Van Dyke, a US Military Particular Forces Grasp Sergeant, contain allegations of constructing greater than $400,000 on Polymarket occasion contracts tied to Maduro’s elimination. Based on the US Justice Division, Van Dyke was concerned within the operation to oust Maduro in January, resulting in allegations he used nonpublic data to revenue on prediction markets.
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