US Strikes Venezuela News Highlights: ‘Maduro is a violent guy, has killed millions of people,’ says Trump following US action in Venezuela

An anonymous gambler has sparked controversy after making $436,000 from a wager on Venezuelan President Nicolas Maduro’s capture, placed just hours before the US announced the operation. The windfall has ignited debate about insider trading on prediction markets, platforms that remain largely unregulated despite handling billions in wagers. And raised question marks about the identity of this trader.

The trader, identified only by a blockchain code, joined Polymarket, a major opinion trading platform, last month and placed four positions exclusively on Venezuela-related outcomes. From an initial stake of $32,537, the account netted over $436,000 when Maduro was seized by US forces on Saturday.

According to Polymarket data, on Friday afternoon, traders assessed Maduro’s exit probability at merely 6.5 per cent. By midnight, odds had jumped to 11 per cent, then surged dramatically in the early hours of Saturday—just before President Donald Trump announced on Truth Social that Maduro was in US custody. This sudden shift suggests traders potentially positioned themselves with advanced knowledge of the military operation.

Platforms like Polymarket and Kalshi operate in a sector called prediction markets, or opinion trading. These platforms allow users to wager on the outcome of future events. While there are some regulations on the sector in countries like the US, they are not as heavily regulated or scrutinised, like traditional stock markets. In India, the government banned such platforms last year as part of a broader crackdown on the online gambling sector. Read more

Nicolas Maduro, the president of Venezuela captured in a U.S. military raid, faces criminal charges in Manhattan, where federal prosecutors have targeted him for years. Here is a recap of the indictment unsealed on Saturday against Maduro, his wife, his son, and other co-defendants.

WHAT CHARGES DOES MADURO FACE? The indictment alleged Maduro and other Venezuelan leaders have, for more than 25 years, "abused their positions of public trust and corrupted once-legitimate institutions to import tons of cocaine into the United States."

The indictment alleged Maduro and his allies “provided law enforcement cover and logistical support” to major drug trafficking groups, such as the Sinaloa Cartel and Tren de Aragua gang. These criminal organizations sent profits to high-ranking officials who protected them in exchange, the Justice ‍Department said.

Among ⁠other specific acts, Maduro is accused of selling Venezuelan diplomatic passports to known drug traffickers and facilitating flights under diplomatic cover to bring drug proceeds back from Mexico to Venezuela.

Maduro was indicted on four counts: narco-terrorism conspiracy, cocaine importation conspiracy, possession of machine guns and destructive devices and conspiracy to possess machine guns and destructive devices.

The case was brought by the U.S. Attorney's Office for the Southern District of ​New York, an office within the Justice Department famous for its fierce ‌independence and aggressive prosecutions.

The same prosecutor's office returned an indictment against Maduro in 2020, with the same four charges. The updated indictment made public on Saturday adds some new details and co-defendants, including Maduro's ​wife, Cilia Flores. The first lady is accused of ordering kidnappings and murders, as well as accepting bribes in 2007 to arrange a meeting between drug traffickers and the director of Venezuela's National Anti-Drug Office.

WHAT COMES NEXT IN THE CRIMINAL CASE?

Maduro is expected to make an initial appearance in court on Monday. A judge will likely advise him of the charges against him and ensure he has a defense lawyer. It could be several months or even more than a year before Maduro stands trial. Prosecutors could eventually offer a plea deal to avoid a trial.

Maduro's case is expected ‌to be overseen by U.S. District Judge Alvin Hellerstein because he was assigned to the 2020 case brought against Maduro. The 92-year-old jurist who has been skeptical of arguments by U.S. President Donald Trump's administration in ‌other high-profile cases. Earlier this year, Hellerstein rejected efforts to deport alleged Venezuelan gang members under the Alien Enemies Act, saying the wartime law had been improperly invoked by the Trump administration.

WHAT DEFENSES WILL MADURO RAISE?

As ‌the case unfolds, Maduro is likely to argue to seek dismissal on the grounds that he is immune, or shielded, from criminal prosecution because he is a foreign head of state.

Judges have in some contexts ‌concluded that foreign officials enjoy immunity ‍from legal claims ⁠in U.S. courts.

But ​Maduro faces an uphill battle with this argument because of a historic precedent: the U.S. invasion of Panama in 1989 that ousted the country's leader, Manuel Noriega.

Like Maduro, Noriega was accused ⁠of conspiring to smuggle drugs into the U.S., and was captured in a ⁠military raid in his home country.

U.S. courts rejected Noriega's immunity argument, showing deference to the U.S. government's assertion that he was not Panama's legitimate leader. Legal experts have said that precedent will likely undermine Maduro's efforts to get charges dismissed. Maduro is also likely to invoke a legal doctrine ‌that says criminal charges should be dismissed if prosecutors brought them vindictively or selectively. He might also argue that claims against him are time-barred, meaning they are too old to be pursued in ‌court.

Federal conspiracy charges generally have a five-year statute of limitations, meaning charges must be brought within five years of the alleged crime's completion, with some exceptions.

(Reuters)

Oil prices slipped on Monday as ample global supplies offset concerns about the impact on oil flows from the U.S. capture of President Nicolas Maduro of Venezuela, home of the biggest global oil reserves.

Brent crude futures were down ‍23 cents, ⁠or 0.4%, to $60.52 a barrel at 0940 GMT, while U.S. West Texas Intermediate crude was 21 cents, or 0.4%, lower at $57.11 a barrel. The benchmarks were volatile in early Asian trade as investors assessed the situation in Venezuela, an OPEC member whose crude exports ​had been under a U.S. embargo, and ‌the potential impact on oil supply.

U.S. President Donald Trump said Washington would take control of the country and that the embargo remained ​in place, after Maduro was detained in a New York jail on Sunday. In a global market with plentiful oil supply, analysts said any further disruption to Venezuela's exports would have little immediate impact on prices.

Oil output in the country has plummeted in recent decades amid mismanagement and a lack of investment from foreign firms after Venezuela nationalised oil operations in the 2000s.

Reuters