US EditionTrump Downplays Prediction Markets as His Family Invests
Prosecutors said a U.S. soldier’s bets on Venezuelan events were based on nonpublic information, intensifying calls for tighter oversight of prediction markets.
- On Thursday, President Donald Trump described the world as "somewhat of a casino" while responding to The Justice Department indictment of Army soldier Gannon Ken Van Dyke, who allegedly used classified information to trade on Polymarket.
- Prosecutors allege Van Dyke misappropriated classified information about a U.S. military operation to capture Venezuelan President Nicolás Maduro and his wife, Cilia Flores, to generate more than $400,000 in illegal profits.
- Comparing the case to Pete Rose betting on his own team, Trump told reporters he was "never much in favor" of prediction markets, despite previously telling The Washington Post they outperformed "fake polls."
- Polymarket posted Thursday that it identified the classified-information trader, referred the matter to The Justice Department, and stated that "insider trading has no place on Polymarket."
- The Commodity Futures Trading Commission Chair Michael Selig defends prediction platforms as financial markets, while Trump remains tied to the industry through his son's investment in Kalshi, raising potential conflicts.
15 Articles
15 Articles
Trump embraced the gambling industry for decades. Now he's hedging his bet on prediction markets.
President Donald Trump on Thursday bemoaned to reporters the surge of interest in gambling and prediction markets in recent years, but he and his administration have been all in on the phenomenon, an NBC News review shows."You know, the whole world, unfortunately, has become somewhat of a casino.
'Bankrupted 3 of them': Trump family member pounces on president's 'casino' comment
On Thursday, President Donald Trump remarked that “the world is a casino” in a glib reply to questioning from a reporter. The following afternoon, his niece Mary Trump had an equally glib response, pointing out that her uncle has a less-than-stellar track record regarding casinos. It started in the Oval Office, where Trump was taking questions from reporters while meeting with Israeli and Lebanese leaders to discuss the ceasefire. A reporter ask…
Trump on prediction markets: 'The whole world, unfortunately, has become somewhat of a casino'
"I don't like it, conceptually, but it is what it is," Trump said.Will Oliver/EPA/Bloomberg via Getty ImagesTrump weighed in on prediction markets — and didn't sound too happy about them."The whole world, unfortunately, has become somewhat of a casino," Trump told reporters.It came after the DOJ indicted a US soldier for profiting off of the Maduro raid via Polymarket.President Donald Trump sure doesn't sound like a prediction market enthusiast.…
Trump Downplays Prediction Markets as His Family Invests
“When a U.S. soldier was indicted on Thursday on charges of using classified information to place prediction market bets, it seemed to confirm President Trump’s lament just hours before that 'the whole world unfortunately has become somewhat of a casino,'" the New York Times reports.Said
Trump responds to $400K Maduro bet on Polymarket involving US special forces soldier
President Donald Trump was asked by a reporter regarding reports of a US special forces member who was involved in the operation to capture Venezuelan dictator Nicolas Maduro, placing winning bets on Polymarket and pocketing more than $400,000. Master Sgt. Gannon Ken Van Dyke was directly involved in the “planning and execution” of Operation Absolute...
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