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Apr 29 05:18 UTC

US special forces soldier arrested after allegedly winning $400k on Maduro raid (cnn.com)

691 points|by nkrisc||746 comments|Read full story on cnn.com
https://www.justice.gov/usao-sdny/pr/us-soldier-charged-usin...

Comments (746)

120 shown|More comments
  1. 1. dexwiz||context
    Rules for thee but not for me.
  2. 2. next_xibalba||context
    Who is the "thee" and "me" in this scenario?
  3. 3. lovich||context
    The guy who got arrested is “thee” the members of the White House admin and Congress making bets are the “me”
  4. 4. paulpauper||context
    lol no SEC lawsuit or civil complaint: strait to the indictment and arrest. Goes to show how elites are truly a privileged class. They get to admit "no guilt" and forfeit profits, avoiding prosecution. Have no idea why this was downvoted. I see so many other people who make this argument about privileged elites and always get upvoted. I never have the right opinion on anything.
  5. 5. JumpCrisscross||context
    > no SEC lawsuit or civil complaint

    The suspect didn't trade securities. SEC doesn't have jurisdiction. The curiosity–to me as a layman–is that this is being prosecuted by the DoJ versus under the UCMJ.

  6. 6. paulpauper||context
    Then what laws were broken if it is not insider trading?
  7. 7. next_xibalba||context
    Probably something related to leaking or unauthorized use of classified information.
  8. 8. JumpCrisscross||context
    > what laws were broken

    "Van Dyke was indicted on charges that included unlawful use of confidential information for personal gain, theft of nonpublic government information, commodities fraud, and wire fraud."

  9. 9. genxy||context
    How does this not apply to Trump and the rest of congress? Billions in market manipulation.
  10. 10. JumpCrisscross||context
    It’s a good question. I don’t know. Unfortunately, my circle is mostly in securities, and thus that is not.
  11. 11. paulpauper||context
    Feds waited no time to drop the indictment and make arrest. 3 months is lightning fast for a white collar crime. Wall St. ppl who commit insider trading pay a fine and admit no wrongdoing, discouraging the profits, and only after many years and trades have passed. Goes to show how elites play by a different set of rules. His mistake was not knowing he was not in that club. Have no idea why this was downvoted. I see so many other people who make this argument about privileged elites and always get upvoted.
  12. 12. joe_mamba||context
    > Goes to show how elites play by a different set of rules.

    Epstein said the same, and yet nobody went out to protest.

  13. 13. livinglist||context
    Rules for thee not for me
  14. 14. kobalsky||context
    This doesn't seem like a simple white collar crime. If the military are betting on the operations they will carry it's virtually espionage.
  15. 15. mcmcmc||context
    Wouldn’t that make insider trading virtually corporate espionage?
  16. 16. JumpCrisscross||context
    What was the last corporate-espionage conviction in America?
  17. 17. mcmcmc||context
    Great question for google. 30 seconds of effort would indicate it’s within the last couple years
  18. 18. TZubiri||context
    Nice. I'm against polymarket allowing bets on war precisely because of this. But I think we can all agree that perpetrators hold more liability than the platforms, they are the true cuplrits of warcrimes/treason.
  19. 19. k310||context
    Nabbing the little guy for show, very much like Henry Hill taking one for Paulie and the gang. The same gang that robbed the Lufthansa vault at JFK Airport, stealing six million dollars in cash and jewelry.

    When the history of this administration is written, provided that history itself has not been completely rewritten a la "1984," Goodfellas will be required reading/watching.

    And the highly profitable daily mood-induced oil price bets will just be forgotten.

    Wilhoit's Law:

    Wilhoit's law.

    “Conservatism consists of exactly one proposition, to wit: There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.”

    https://pylimitics.net/wilhoits-law/

  20. 20. paulpauper||context
    I made a similar argument and was downvoted. Yeah, the well-connected pay a fine when caught. This guy's mistake was not knowing he did not belong to that club. He amounted to no more than a fall guy.
  21. 21. nickburns||context
    They don't call 'em cannon fodder for nothin'!
  22. 22. RhysU||context
    Wilholt's essay is a nice one. But it amounts to defining the opposition in a way that's easy to tear apart followed by tearing it apart. It's a cute trick but isn't much of a basis for serious discussion.

    Watch: Wilholt's essay consists of exactly and only one indefensible, rhetorical sleight of hand. Consequently, no one can honestly defend it. Attempts to do so are undeserving of serious scrutiny.

    After tearing down a strawman, he claims high ground:

    > The law cannot protect anyone unless it binds everyone; and it cannot bind anyone unless it protects everyone.

    But you'll get a fair bit of support for Wilholt's so-called anti-conservative principle from a fair number of prominent conservative thinkers.

  23. 23. zaptheimpaler||context
    The modern US conservative party really does seem to believe only in that one principle and nothing else. They will pardon actual sex traffickers like Andrew Tate and worse as long as they're on their side. They will defend any action at all by Trump, no matter how vile or illegal or stupid or wrong. It's not a sleight of hand if its true.
  24. 24. RhysU||context
    Go read a few months worth of the National Review.

    Many prominent conservative thinkers are not particularly big fans of Trump. They like portions of his initiatives and policies but not him as a standard bearer, because he does dumb, ill-principled stuff at odds with conservatism.

    Peggy Noonan of the WSJ can't write two sentences without letting you know how much she disdains Trump, e.g.

  25. 25. zaptheimpaler||context
    I guess I should clarify it to the modern US conservative party. I know there are a few dissenters even there, but 95% of them vote the way he wants and of course we could have impeached Trump and many cabinet officials long ago if they voted that way. They unquestionably enable this administration. I think its fair to say they represent the conservatives broadly, certainly they are the people the nations conservative citizens elected and continue to support.
  26. 26. ashtonshears||context
    A few annecdotal voices dont change reality; american conservatism is poisoned, and must be rejected by all sane/moral humans for multiple generations.
  27. 27. pixl97||context
    >Peggy Noonan of the WSJ can't write two sentences without letting you know how much she disdains Trump, e.g.

    This is the functional equivalent of a fictional character named Neggy Poonan saying "I really hate the Nazi's, but you know if I don't vote for Hitler the other guy will win"

  28. 28. gabagool||context
    Per Goodfellas, "Paulie and the gang" ended up in jail while Henry Hill received witness protection. So, it wasn't just for show
  29. 29. busterarm||context
    Authority-wise, a MSG in the army isn't exactly a little guy either. That's quite a senior role. In their battalion they likely head either operations, intelligence or supply.

    This isn't joe schlub making side bets here. This is a senior late-career enlisted in an extremely sensitive position violating all of their trust and authority to cash out big.

  30. 30. herewulf||context
    That MSG works for a Captain or a Lieutenant. If said MSG is good, there might be a future of advising a commanding officer on uniforms and length of grass at increasingly higher echelons. The rank is not newsworthy.
  31. 31. bluegatty||context
    Everything about this statement is completely wrong.

    False, conspiratorial, dogmatic, juvenile.

    The arrest and indictment of someone for betting on Polymarket - which has not yet been tested in court - is going to give huge attention and precedence to the likely illegal activities of some of Polymarket shenanigans coming out of the white house.

    Edit: if this was political, it would be pushed in the other direction. This is the NY DOJ doing their jobs.

  32. 32. behringer||context
    What? Military trials are not necessarily public.
  33. 33. bonsai_spool||context
    This was charged by DOJ not under a military tribunal
  34. 34. bluegatty||context
    It's by the Southern District of NY and the case will get national attention.

    This is a hugely negative thing for the Administration, as District Attorneys, SEC staff, etc. are going to be actively seeking how this could parlay into investigations and indictments of the people in the White House making Polymarket and other speculative bets just before government actions.

    There are 100's lawyers reading that right now getting inspired on how they can take action to turn their investigative powers onto whoever those actors are aka family members or associates of those in the White House / Cabinet.

    An investigation could be done at the State Level, away from the control of the DoJ, and, if it yields evidence, it wouldn't have to even make it's way through the courts in order to be political destructive.

    The suggestion by the OP this has anything to do with ideology or the ruling power throwing one under the bus is ridiculous. Note that the ruling regime isn't above such a thing, but that's not what is happening here because it definitely does not serve their interests - it's the total opposite.

    This could turn into a political nightmare that crashes the party.

    Edit: if we want to be 'hopefully cynical' - recognize that this could absolutely be the vector that takes the man down, or even many of them. Imagine how many WH, Cabinet Members, family members could get investigated for this and under purvue of state investigators where the investigation can't get shut down.

  35. 35. NikolaNovak||context
    ...

    I don't think this is going to be Hacker News fascinating discourse, but the current USA administration is so openly, brazenly, continuously, gleefully corrupt; continuously fire people with ethics and competence and bring in the in-group of equally corrupt ; and have continuously been rewarded for that behaviour; that I feel the OP is merely observationally factual.

  36. 36. bluegatty||context
    The current Executive is 'brazenly criminal', yes, but there is nothing much 'factual; about the OP's comment.

    None of this remotely has to do with 'Conservatism', it's certainly not ideological, and it's likely not political either.

    This indictment is going to cause a massive headache for White House as they have likely been involved in 'insider trading'.

    This is actually regular Justice, finally seeing some movement, to cynically characterize it as otherwise, totally against common sense (aka it's bad for the WH) is just unsound. I think it demonstrates the kind of bubble a lot of people live in, which is maybe understandable in the current climate, where horrible behaviours have gone unpunished. But still. This is the story of a state doj doing their job.

  37. 37. jandrewrogers||context
    > nabbing the little guy

    Politics aside, he isn't a "little guy". He apparently holds the rank of master sergeant. That's a senior battalion-level role and somewhat political.

    This isn't some random E-4 getting dragged.

  38. 38. 9x39||context
    Compared to a member of US Congress, or the senior executive branch, or the CEO class, they’re still nobody and the “little guy”.

    Not that it’s defensible behavior.

  39. 39. usefulcat||context
    Is he important enough to get a presidential pardon? That's how you know whether he's a "little guy".

    To be fair, that bar is quite a bit lower these days, but still..

  40. 40. denom||context
    What's the going rate for pardons these days?
  41. 41. Tangurena2||context
    During the first Trump term, Giuliani said that the cost was $2,000,000 per pardon. Many went through him.

    https://www.nbcnews.com/politics/politics-news/giuliani-accu...

  42. 42. herewulf||context
    This might burst some bubbles but this is absolutely a little guy because anything below a field grade officer (or the CSM sidekick below brigade) is a little guy and a battalion is actually quite low on the food chain.

    Yes, there are some hard working NCOs and junior Os out there that make shit happen, but they are not the decision makers and make for great fall guys when shit hits the fan.

  43. 43. xhevahir||context
    He may be a little guy but that doesn't mean that he's a fall guy. The Special Forces at Fort Bragg are a law unto themselves. I've just finished reading The Fort Bragg Cartel and the things some of those guys have been up to, and the leniency of both their commanding officers and the local civilian police toward them, are shocking. Drug smuggling, murder, theft of arms, coming back from deployment with tens of thousands of dollars taped to their persons...not to mention the war crimes.
  44. 44. dmschulman||context
    I read this as "why are they going after a soldier who made $30k when they could be going after guys who made seven figures off of expertly timed trades on going to war with Iran"
  45. 45. Aurornis||context
    He profited $400K.

    Pursuing this case doesn’t mean they’re excluding other cases. If you read the article this case was very clear because he made amateur moves and didn’t conceal his identity at all.

    This was an easy nab. All leaks should be pursued regardless of who did it.

  46. 46. jghn||context
    I'm going to go out on a limb and suggest that Trump's insiders own't be investigated
  47. 47. NicoJuicy||context
    He's actually too proud about it to hide it.

    A 400 million plane "donation"

  48. 48. Forgeties79||context
    There is zero chance this escalates further off this guy.
  49. 49. defrost||context
    Careful, you'll have Ka$hPatel wondering who to throw under a bus just for the giggles, the p0wn, and the extra $100 for his stripper lounge charity.
  50. 50. spydum||context
    You could place a prediction bet probably.
  51. 51. nickff||context
    Zero chance? What odds are you offering, because this bet looks very appealing?

    I am guessing that you would not actually go all-in against a penny, and I’m curious to know what implied probability you actually offer. I will see your bet amount as an expression of your confidence level. If you say that you don’t bet, I’ll take that as an indication that you have no confidence, and believe the probability to be something above 50%

  52. 52. Forgeties79||context
    Initially I did set a number to be donated to a favorite charity but decided it was in poor taste/mean spirited and quickly edited it out. We don’t need to be petty just because we disagree.

    The Trump admin will not be held accountable for the blatant market manipulation and betting on internal info they engage in. That’s the smart “bet” metaphorically speaking. It’s a self enriching circus.

  53. 53. Forgeties79||context
    A master sergeant is not remotely significant in the world of politics.
  54. 54. DASD||context
    If he was "behind the fence", at most he would be a team sergeant or maybe even assistant team sergeant. Talking 4-6 members max.
  55. 55. bmitc||context
    According to Google Gemini, there are over 16,000 master sergeants. Might as well be some random, especially when it's literally the president himself, cabinet members, congress, and other cronies directly doing the same and even worse things.
  56. 56. appplication||context
    Master sergeant is a respectable rank (first of senior NCO) but it’s not exactly a high ranking position. Speaking from AF experience, you’ll have a couple of them or higher in a 50 person squadron, and levels like group/wing command they’re oftentimes among the lowest ranking person in the room.

    This is absolutely a low level soldier getting dragged.

  57. 57. notatoad||context
    > he isn’t a little guy

    His salary this year was probably about $118k on standard pay scales. I’m not sure what your definition of little guy is, but to me that qualifies

    (Not trying to be condescending to anybody here, that’s not far off my salary and I’d definitely call myself the little guy)

  58. 58. tencentshill||context
    They fired 4-star generals on a whim. The military is expected to be as loyal as the rest.
  59. 59. Tangurena2||context
    Some of those generals were fired because they were women or minorities. Others because they spoke ill of Trump (meaning that they showed "insufficient loyalty").
  60. 60. Aurornis||context
    As other comments said, this wasn’t exactly a “little guy” in rank.

    He also made it all very obvious and traceable for them through the email addresses he used. From the report it doesn’t appear that he made any effort to conceal his identity or hide his tracks until afterward, by which time it was too late.

  61. 61. ElProlactin||context
    Well, if people in Congress, the Supreme Court, the administration, etc. don't have to conceal their "activities", why should this guy?

    He wasn't a "little guy" but apparently his only mistake was not being high enough.

  62. 62. Aurornis||context
    I don’t know why people are trying to defend this guy. We should be upset when anyone tries to use confidential information for personal gain. It’s also a security risk if anyone is incentivized to place bets based on confidential info.

    I know you’re trying to make a separate point about Congress, but it’s silly to try to turn this into a class warfare thing. Congress didn’t even have this information at the time.

  63. 63. jrumbut||context
    I haven't seen anyone defend his conduct, but it is natural to discuss his political clout because of this line on TFA:

    > Today’s announcement makes clear no one is above the law

    What others are saying, IIUC, is that no reasonable person believes an enlisted soldier (even a senior one) is above the law and that in fact there is a history of them being used as fall guys or scapegoats for people who do enjoy protection on the basis of their social class or government position.

    Without this specific statement from the FBI director, then it would be "soldier gets caught doing bad thing" and the other part would be off topic. But the article itself introduces the idea of class and impunity.

  64. 64. ElProlactin||context
    Nobody is defending this person.

    > ...but it’s silly to try to turn this into a class warfare thing.

    You can ignore the class warfare but the class warfare isn't ignoring you/your country.

  65. 65. JumpCrisscross||context
    > don’t know why people are trying to defend this guy

    It’s a hot take. It’s also a one off. You don’t have to strategize building the case law to then enable further investigations and prosecutions, a process which takes year and is beyond the internet’s attention span. (Silver lining: these takes are also mostly meaningless. Gears will grind on.)

  66. 66. janalsncm||context
    Because the path to Rule of Law is not deleting/refusing to enforce all laws.

    Rule of Law means no one is above the law. In practice this is an aspiration (in the U.S. and everywhere else) but giving up on that isn’t going to make the world better.

  67. 67. jongjong||context
    There seems to be a pattern that if someone who was not pre-selected by some elites ends up making their own money (I.e. real 'self-made') they are swiftly attacked by the system. On the other hand, look at Nancy Pelosi; she didn't get into any trouble.

    Are people allowed to be self-made anymore?

    For me personally, after years of planning and hard work, I once managed to secure myself about $40k of passive income from a blockchain in crypto; this lasted a few years but eventually the founders suspiciously abandoned the entire tech stack (for no reason) and switched to Ethereum; this destroyed the opportunity for me; literally lost that stream entirely. Now, recently, I was able to re-establish a passive income stream of about $10k per year from a non-crypto source; this is from an opportunity I took over 10 years ago... I'm worried about that being taken away somehow.

  68. 68. JohnTHaller||context
    For everyone saying this isn't some little guy... compared to the administration which is engaging in the same thing, it's a little guy designed to be a distraction.
  69. 69. janalsncm||context
    One soldier being arrested does not prevent others from being arrested. If anything, it sets a precedent.

    Yesterday, people could justifiably say that betting on polymarket had essentially no consequences.

    Today, we learned there can be consequences.

    If in a year’s time this is the only person to ever be charged, that’s a different story.

  70. 70. akudha||context
    When the history of this administration is written

    I often think about how much we can trust history 20-30 years from now. It is hard to trust history from hundreds of years ago, either because it was written by victors or because there just isn't enough material in the first place. I suppose we have the opposite problem now (and in the future) - too much noise and junk, whole bunch of it generated by AI slop - where does one even start?

  71. 71. george916a||context
    Oh, and let’s not forget the politicians like Pelosi, the Clintons and many other top Democratic Party politicians, repeatedly engaged in insider trading of stocks, often times using classified information, for multi million dollars profits. Almost never investigated. Practically never convicted.
  72. 72. ourmandave||context
    Yes, please, by all means with full transparency and public trials.

    Then clear the docket because you're going to need a lot of investigators to even begin on the Trump administration.

    Here's a recent article from the American Bar Association on the rampant and on-going f*ckery.

    https://www.americanbar.org/groups/crsj/resources/human-righ...

  73. 73. polski-g||context
    How is this illegal? Polymarket isn't a US-regulated market.
  74. 74. gpm||context
    It's rather obviously illegal to leak classified intel by taking public actions based off of it... that's practically the meaning of the word "classified".
  75. 75. georgemcbay||context
    It is illegal to leak classified intel if you're just an average person.

    If you're the Trump hand-picked Secretary of the War Department then it is not illegal and will never be punished.

    Always remember which tier of justice you are on prior to committing a crime!

  76. 76. junar||context
    From the indictment, he's being charged with the following:

    * Unlawful Use of Confidential Government Information for Personal Gain

    * Theft of Nonpublic Government Information

    * Commodities Fraud

    * Wire Fraud

    * Engaging in a Monetary Transaction in Property Derived from Specified Unlawful Activity

    https://www.justice.gov/usao-sdny/media/1437781/dl

  77. 77. paulpauper||context
    So had this not involved presumed military secrets, it would have been legal? So it was the classified info that made it a crime, and then the insider trading aspect was later tacked on? It's crazy how the government adds so many charges. This guy is screwed.
  78. 78. gdulli||context
    That's part of the Chesterton's Fence nature of why these markets are bad. We know insider trading is a bad thing for the stock market, so it's policed. These markets, being a post-regulation internet free for all, aren't.
  79. 79. ivewonyoung||context
    Polymarket isn't being accused or charged with wrongdoing.
  80. 80. kevin_thibedeau||context
    They directed the right size bri...consulting fee to Jr.
  81. 81. mcmcmc||context
    Not true, they lobbied very hard to be regulated under the CFTC because of its more relaxed rules
  82. 82. warlog||context
    They should run for Congress
  83. 83. jh00ker||context
    How many people in congress made the exact same bet on the exact same information, and for them it's "legal?"
  84. 84. snypher||context
    “Any clearance holders thinking of cashing in their access and knowledge for personal gain will be held accountable”

    Yeah right.

  85. 85. cosmicgadget||context
    It is legal and until we vote for people who will outlaw it we only have ourselves to blame.
  86. 86. GolfPopper||context
    Easy to say, hard to do, when your two "choices" at the ballot box represent slightly different groups of wealthy donors.
  87. 87. XorNot||context
    Ah enlightened centrism rears its head again. Remember folks: at all points both sides are exactly the same /s.
  88. 88. singingtoday||context
    If you guilt me into voting, I'll probably vote for somebody you don't like.

    Isn't it better that I don't vote?

  89. 89. _carbyau_||context
    No. It is better that you vote. For at the end of the day you can:

    1. know you tried to express your wishes

    2. know that the outcome is because people expressed their wishes

    3. realise the balance between 1. and 2. whether the outcome is as you hoped, and especially if it is not as you hoped.

    This is important because hanging back and saying "Well I didn't vote for them!" is by default not supporting democracy as your country views it.

  90. 90. 14||context
    There have been multiple times where the final vote count was the difference of a handful of votes. No one is guilting anyone to vote and some will say that neither party represents what they want and that sucks. But ultimately there has to be one side that even if you don't overall like them you would still rather they get elected. So vote for who you think might be best. And if they have policies you don't agree then contact your representative and say "I voted for you but do not want xyz policy". The more who speak up the better.
  91. 91. XorNot||context
    I'm not American. And surprise: regardless of your reasons you get judged by the government you put in power, since foreign policy is how the rest of us experience your choices.

    And your choices are evidently you're completely okay with the current situation as well.

  92. 92. altmanaltman||context
    "better" for whom?
  93. 93. JumpCrisscross||context
    > Isn't it better that I don't vote?

    Maybe. I'm not actually that invested in people voting. But that doesn't negate the hypocrisy of complaining when you're, through inaction, endorsing the status quo.

  94. 94. yieldcrv||context
    Everyone knows how the parties are different

    Its valid to be more annoyed by the ways that they’re the same

    your cause is not my cause, its better for the viability of your preferred party if you remember that

  95. 95. XorNot||context
    Its valid to say a lot of things. But it doesn't escape you from having to own those choices.

    You are what you'll accept, and you looked at the choices given and said "I'm okay with either one".

    Because the consequences of whatever mutual dissatisfaction you had still means one of them gained power and implemented their agenda anyway. And you were okay with that.

    You don't get to not make a decision and then pretend you aren't culpable for your inaction.

  96. 96. yieldcrv||context
    the other person was talking about not making a decision, so you've transposed an idea not mentioned at all onto my comment

    good luck out there

    what to remember: the goal of the parties are to win friends and influence people, it's a weird meme that you aren't doing that and neither is the other party. time to re-evaluate the communication style yeah? proselytizing isn't working

  97. 97. SpicyLemonZest||context
    The idea that nobody in American politics is trying to win friends nor influence people is indeed a very weird meme! As you say, that implies there's a big lane of persuasion that isn't being filled for some reason, even though everyone who's heard of Dale Carnegie knows it ought to be.

    Have you considered the possibility that the meme might be false? That would explain neatly why it's so weird.

  98. 98. yieldcrv||context
    amusing.

    parties are losing members and partisan’s methods are not effective

    there is a big lane of persuasion that isn’t being filled

  99. 99. cosmicgadget||context
    Vote in primaries. Also wealthy donors probably care less about whether a candidate can self-enrich with insider trading.
  100. 100. wmf||context
    None, because Congress wasn't informed of the Maduro raid until afterwards?
  101. 101. janalsncm||context
    We have finally figured out the purpose of the War Powers Act.
  102. 102. kjkjadksj||context
    We aren’t talking about in official capacity
  103. 103. kshacker||context
    Usually there is this gang of 6 or gang of 8 who is still kept informed.
  104. 104. JumpCrisscross||context
    Weren’t they famously kept in the dark for this and Iran?
  105. 105. mcmcmc||context
    I think you misspelled “the White House”
  106. 106. Aunche||context
    People act like the pervasiveness of insider trading in Congress is an indisputable fact, when there have been only a few trades with suspicious timing, which is similar to what you would expect statistically from 535 wealthier people trading with no insider information. The only case where I feel like insider trading is likely was Richard Burr's sales before COVID.
  107. 107. bbwbsb||context
    Congress (plausibly) beats the market: https://www.ft.com/content/14339d5b-5a5f-4e4a-8293-ff3a2e25d...

    Pelosi has made many suspicious trades: https://insider-trading.org/the-nancy-pelosi-insider-trading...

    Suspicious trades before Trump's Iran announcements: https://www.bbc.com/news/articles/cge0grppe3po

  108. 108. Aunche||context
    Beating the market isn't evidence of insider trading. Everyone invested deeply in tech beat the market, which is what Paul Pelosi did. If he did trade with insider information, he did it in a way that was subtle enough to look sufficiently like normal trading. This is nothing like the smoking gun of a 4x spike on oil futures 1 hour before a major announcement or a hyperspecific bet on Polymarket.
  109. 109. muddi900||context
    But the suggestion a bunch of Lawyers are better traders than average also stretches creduility.

    Somehow, Congress beating the market simply on savvy is huge ask to believe.

  110. 110. Aunche||context
    That article is about certain individuals, not Congress as a whole. By definition, some individuals are going better than average.
  111. 111. _DeadFred_||context
    Isn't this the purpose of Polymarket? To give a more accurate picture of what is going on/going to happen by giving insiders a financial incentive?
  112. 112. fuzzfactor||context
    I thought so too. Giving people with insider info a chance to make a buck in ways they didn't have before.

    Not my downvote btw, corrective upvote now applied.

  113. 113. meric_||context
    Polymarket isn't doing anything about it. It's the US government because obviously while I suppose this info made a more accurate "prediction" it also yk, leaked confidential state military secrets which is something the government can prosecute. They're not being prosecuted for insider trading on Polymarket
  114. 114. stubish||context
    Insider bets distort the probabilities, creating a conflict of interest and causing market manipulation. We don't let athletes bet on their own games, because some will deliberately lose. They will do this when the odds are good and they will make more money. So you don't get accurate predictions, because the more probable something is, the better the odds and the more money to be made by someone manipulating the odds.

    End result is you place bets against things you want to happen. eg. USA invading Iran. If you win the bet, you make money. If you lose the bet, you still win because the USA invaded Iran. And maybe that happened because people in power took your bet and influenced the odds in their favor. A fully deniable market for bribes. Same reason you can't bet on unnatural death, because it crowdsources assassination.

  115. 115. s1artibartfast||context
    Sure, but the purpose of the FBI is to go after people leaking classified military Intel.

    Different people and organizations in this world have different goals. More news 10.

  116. 116. muddi900||context
    I thought the goal of the FBI was to entrap mentally ill pelople
  117. 117. sandworm101||context
    What was his rank? What was his job? What was his clearance? How did he have access?

    The canadians have the info. He was special forces. He was enlisted (not an officer). He was involved, or at least privy to, the planning of the Venezuela thing.

    https://globalnews.ca/news/11814801/maduro-capture-polymarke...

  118. 118. chatmasta||context
    I thought the names in the opening were the people being charged. Then I realized they were the prosecutors.
  119. 119. mrtksn||context
    Are prediction markets regulated? Is this about breaking the laws regarding prediction markets or is this about leaking classified information? I skimmed but not sure still.

    Someone more cynical can say that this is about protecting Thiel’s investment(if people think it’s rigged may stop playing) or making sure that only big G makes money with classified information.

  120. 120. garciasn||context
    From the article:

    unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction.