AMNA NAWAZ: A U.S.

Special Forces soldier# who helped to plan the January capture of## Venezuelan President Nicolas Maduro# has been indicted for allegedly using## classified information about the raid# to place bets in the prediction market.

The soldier, who was stationed at Fort Bragg# in North Carolina, won more than $400,000 on## the platform Polymarket by placing a# series of bets about Maduro's removal.## The indictment is raising new concerns about# insider trading and the need for regulation.

Joining us to discuss this is our# White House correspondent, Liz Landers,## and David Hill, who's a journalist who# writes about gambling for "Rolling Stone"## and on his American Gambler Substack.

Welcome to you both.

And, David, I will start with yo.. Just briefly set the stage for us.

What# kind of concerns does this indictment raise?

DAVID HILL, American Gambler Substack: Well,## it raises a lot of c.. There's been quite a bit of concern# about prediction markets and## the markets that they offer on geopolitical# events, but also on insider trading that might## be happening in those markets, for a number of# months, as we have seen prediction markets grow in## the United States.

And so a prosecution like this# is very important, I think, for the prediction## markets to try to return to some trust and sense# of integrity about the markets that they offer.

AMNA NAWAZ: And, Liz, you had a chance to ask## President Trump about this indictment# specifically yesterday.

What did he.. LIZ LANDERS: This news was breaking as we were# going back into the Oval Office around 6:00 p.m.## last night, and I asked the president about# this case, kind of read some of the details## to him.

He had actually seemingly not heard# about it yet, so he was asking me questions.

And then I asked him a# follow-up question about these## bigger bets that are also being placed# about Iran.

Here's that exchange.

There are also bets, though, that are being# placed as well on the Iran conflict too,## and there have been some trackings where# people suspect that there is insider## trading happening on these prediction markets# around the war.

Are you concerned about that?

DONALD TRUMP, President of the# United States: The whole world,## unfortunately, has become somewhat of a casino.## And you look at what's going on all over the world# in Europe, and every place they're doing these## betting things.

I was never much in favor of it.

I# don't like it conceptually, but it is what it is.

No, I think that I'm not# happy with any of that stuff.

LIZ LANDERS: One of those bets that# has drawn quite a bit of scrutiny is a## large bet again on Polymarket back in March# on the death of the ayatollah.

This person## made about a half-a-million, an# anonymous bettor on Polymarket.

AMNA NAWAZ: Meanwhile, David, we know there's been# guidelines for sports gambling Web sites in place## for years.

That is not true when it comes# to betting on geopolitical events.

We know## Congress is just starting to# introduce some related bills,## but when it comes to regulation or# guidelines, what do you think is needed here?

DAVID HILL: Well, what Polymarket and# Kalshi want us to believe is that they## are offering futures contracts and# should be regulated by the CFTC.

And there are regulations that exist within# the CFTC about insider trading in commodities## and futures.

And so, ostensibly, any bet that# you make on Kalshi and Polymarket should be## under those same regulations, which is part of# what I think we're trying to test here with the## arrest of Mr.

Van Dyke and the# investigation about whether or## not he committed insider trading when he# made the bet about the Maduro operation.

AMNA NAWAZ: Liz, we know that the White House# has reportedly actually issued a warning to its## own staff last month against using insider# information to bet on the Iran war in the## prediction markets.

Tell us about that.

LIZ LANDERS: Pretty unusual.

The White House Personnel Office sent# around an e-mail to White House staffers## last month, according to The Wall Street Journal,## and said that they cannot bet on the# Iran war in these prediction markets.

The White House said in a press statement that# federal employees are subject to ethics guidelines## that prohibit the use of non-public info for# financial benefit.

The Trump family, though,## does have connections to these prediction# markets.

The president's son, Don Jr.,## is an adviser to both Kalshi and Polymarket.

Some critics of the president have accused# him of using his power as the president to## manipulate the markets when he talks to reporters# on the phone or issues statements on TRUTH Social.## The Trump administration, though, is coming down# hard in this indictment that came out yesterday.

The acting attorney general, Todd Blanche,# said -- quote -- "Widespread access to## prediction markets is a relatively new phenomenon,## but federal laws protecting national# security information fully apply."

The U.S.

attorney that brought these# charges against Van Dyke yesterday## said that he engaged in -- quote# -- "clear insider trading," Amna.

AMNA NAWAZ: David, pull this back# a little bit for us in terms of## the lens through which we're looking at this.

Now, even if it is legal, right, is there# something immoral or ethically .. here about betting on geopolitical events# when lives are potentially at stake?

DAVID HILL: Certainly, the question of morality is# an important -- is sort of central to all of this.

But I do think it's important to understand that# these types of these types of bets are made in the## major financial markets every single day.

I mean,# just one of the big controversies that I think## the Trump administration is sort of reacting to# isn't just the best that are made on Polymarket## or on Kalshi, but that in the minutes before# he announced the Iran cease-fire, there were## close to a billion dollars worth of oil futures# that were traded in the commodities markets.

And so there's always the sort of looming# question about insider information## that could be utilized on bets in the markets# that are impacted by world and global events.

AMNA NAWAZ: All right, that is David Hill## from "Rolling Stone" and our own Liz# Landers covering this issue for us.

Thank you to you both.