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Hegseth bars Pentagon personnel from betting on military operations using nonpublic information

CBS News reports that a Hegseth memo bars Defense Department personnel from betting on military operations with nonpublic information, including on Polymarket and Kalshi.

Updated Oct 23, 2026 · 00:14 UTC3 reports

The short version

  • Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on U.S. military operations, according to a memorandum obtained by CBS News.[CBS News]
  • The October 20 memo covers classified and unclassified information, names Polymarket and Kalshi, and warns that violations could bring disciplinary or criminal action.[CBS News]
  • The directive follows alleged Polymarket bets of over $33,000 by an Army master sergeant, which federal investigators believe won more than $409,000; those allegations remain unproven in the reporting.[CBS News]

Key facts

  • Defense Secretary Pete Hegseth banned Defense Department personnel from using nonpublic information to bet on U.S. military operations.[CBS News]
  • The prohibition applies to classified and unclassified information and specifically includes prediction markets such as Polymarket and Kalshi.[CBS News]
  • Violations could result in administrative disciplinary or criminal action under federal law or the Uniform Code of Military Justice.[CBS News]
  • Federal investigators believe U.S. Army Master Sgt. Gannon Ken Van Dyke made bets of more than $33,000 on Polymarket within hours of President Trump's January announcement that Maduro had been captured.[CBS News]
  • The alleged bets resulted in winnings of more than $409,000.[CBS News]

What remains uncertain

  • The bets attributed to Van Dyke are allegations based on federal investigators' belief; the reporting does not describe a court finding or case outcome.[CBS News]
  • The reporting does not indicate how the directive will be enforced or whether other personnel have been investigated under it.[CBS News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.