Pentagon bans troops from betting on nonpublic military information

Summarised from 2 outlets · Updated 22 Oct, 23:03 · Archive

Defense Secretary Pete Hegseth has banned military personnel from using nonpublic information to place bets on prediction markets.

Defense Secretary Pete Hegseth has issued a one-page directive prohibiting military personnel, intelligence professionals and other Department civilians from using nonpublic information to bet on prediction markets. The memo, dated Tuesday, specifically names platforms like Polymarket and Kalshi as prohibited venues for such trades.

Hegseth argued that monitoring market movements can reveal sensitive information to adversaries. He also noted that financial interests can compromise judgment, writing: 'A logistician with money riding on a strike date has an interest in that date. An analyst with a position on an outcome has an interest in that outcome.'

The directive follows the case of Master Sergeant Gannon Ken Van Dyke, a 38-year-old Special Forces soldier. Federal prosecutors and regulators charged him in April with using his access as a Special Forces member to place bets totalling more than $32,500 on when Venezuelan President Nicolás Maduro might be removed from power, with the vast majority of bets placed on the night of 1 January.

Violators of the new policy face administrative punishment and potential criminal charges under the Uniform Code of Military Justice or federal law.

How it is being reported

• New Pentagon directive bans troops from using nonpublic info to bet in prediction marketsDefense Secretary Pete Hegseth has issued a new directive telling troops they cannot use “nonpublic information” to make bets on prediction markets.Clickorlando · 22 Oct, 22:42
• New Pentagon directive bans troops from using nonpublic info to bet in prediction marketsDefense Secretary Pete Hegseth has issued a new directive telling troops they cannot use “nonpublic information” to make bets on prediction markets.News4Jax · 22 Oct, 22:42

In this story: Pete Hegseth · Gannon Ken Van Dyke · Nicolás Maduro · Pentagon · Polymarket · Kalshi · Venezuela

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