FBI agents raided the Manhattan apartment of Polymarket CEO Shayne Coplan early Wednesday morning — just a week after the election-betting platform successfully predicted Donald Trump’s stunning victory, The Post has learned.
FBI seizes Polymarket CEO Shayne Coplan’s phone, electronics after betting platform predicts Donald Trump US election win: source
It’s “grand political theater at its worst,” the source told The Post. “They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.” “This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” the source said.
“We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good.” Billionaire Trump supporter Peter Thiel raised about $70 million in funding for Polymarket, according to a Forbes report earlier this year.In 2022, the online gambling platform was forced to pause its trading in the US and pay a $1.4 million penalty to settle charges with the Commodity Futures Trading Commission that it had failed to register with the agency.
“Polymarket’s Terms of Use expressly prohibit market manipulation,” a Polymarket spokesperson told Fortune in a statement.
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