
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.
🚨🇺🇸 BREAKING: FBI SEIZES POLYMARKET CEO’S ELECTRONICS AFTER TRUMP ELECTION PREDICTION
The FBI seized Polymarket CEO Shayne Coplan’s phone and electronics at his Soho home early Wednesday, just a week after Polymarket accurately predicted Trump’s election win.
Sources close to… pic.twitter.com/tKmc8JKvAW
— Mario Nawfal (@MarioNawfal) November 13, 2024
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.
This might be one of the final bosses of the “then they fight you phase”.
The FBI raiding the house of the founder of Polymarket is REALLY scary pic.twitter.com/ctSyedi0vl— Ab (@abrahamcr) November 13, 2024
Being reported that the FBI raided Polymarket founders home this morning & seized his phone and electronics.
They gave him no reason.
Polymarket predicted Trump would win.
This looks like political retribution and is actually bone chilling.
WTF is this administration doing. pic.twitter.com/QaBKrSNA2x
— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) November 13, 2024
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.
More denial is in place as @Polymarket CEO gets raided by theFBI. #crypto #blockchain #digitalassets – @elonmusk Not too soon before a takeover in DC changes these antics. pic.twitter.com/6i3PRrVvUv
— PaulBarron (@paulbarron) November 13, 2024
BREAKING: the FBI has allegedly raided the home of Polymarket founder and CEO @shayne_coplan and "demanded his phone and electronics."
We don't have all the details, but our piece from last month detailing the US government's little-known, partisan-fueled war on prediction… pic.twitter.com/nZtklhOncO
— Pirate Wires (@PirateWires) November 13, 2024
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.