FBI Targets Polymarket CEO Following Trump Prediction Success

The FBI seized Polymarket CEO Shayne Coplan’s electronic devices during a Wednesday raid on his Manhattan apartment, just days after the betting platform accurately predicted President Donald Trump’s election victory. The timing of the raid has sparked accusations of political motivations.

“They could have requested this information through proper channels, but they chose to create a spectacle,” a source close to the matter said.

Polymarket’s Election Day prediction gave Trump a 58.6% chance of victory, a stark contrast to traditional polling. Critics have accused the platform of favoring Trump, though a spokesperson defended it as a transparent market for public data.

The raid follows Polymarket’s previous legal troubles, including a $1.4 million fine in 2022 for failing to register with the Commodity Futures Trading Commission. The platform, which primarily operates internationally, recently announced plans to return to the U.S. market.

Adding to the scrutiny, a French trader reportedly earned $85 million on Trump-related bets. Although the trader denied any wrongdoing, Polymarket has come under increased government and media attention.

Coplan, who has not been charged, joked on social media after the raid: “New phone, who dis?” The incident underscores the heightened tensions between political forces and platforms challenging traditional narratives.