Federal agents raided the home of 26-year-old Shayne Coplan, the CEO of Polymarket. The allegation is that Polymarket may have violated an agreement made with the US Government in 2022 that prevented them from allowing US bettors to place wagers on the platform. Polymarket has generated a ton of publicity and billions of dollars during the 2024 Presidential Election. Their platform allows users to bet on elections and other political events.
The trends of betting on Polymarket showed Trump winning the election for quite a while before the general. Talking heads on television shows cited Polymarket as the pulse of the people… and they were ultimately correct. Shayne Copland released a statement on Twitter/X stating that this is a last-ditch effort by the current administration to engage in lawfare of political opponents. Copland was not arrested during the 6 a.m. NYC raid, however, the feds did confiscate his phone and other items.
SOURCES:
FBI raids Polymarket CEO Shayne Coplan’s apartment, seizes phone: source
FBI raids home of Polymarket CEO Shayne Coplan, reports say
O’Leary crushes theory that Polymarket CEO home raid was ‘political retribution’: The rules are ‘transparent’ | Fox Business
Polymarket Investigated by DOJ for Alleged Use of Platform in US – Bloomberg
FBI raided home of Polymarket CEO over alleged illegal bets by US users: sources
Polymarket founder’s home raided by FBI in probe of election betting platform – YouTube
FBI raids Polymarket CEO’s home, seizing phone, electronics | Reuters
