The FBI raided the home of Polymarket CEO, 26-year-old Shayne Coplan, seizing his phone and electronics after the betting platform predicted Donald Trump’s election win.
According to Reuters, Federal law enforcement agents raided the downtown New York home of Polymarket CEO Shayne Coplan on Wednesday, seizing his phone and electronics, the company confirmed.
The early-morning raid of Coplan’s SoHo apartment followed last week’s presidential election, in which bettors on Polymarket, an offshore, crypto-fueled election gambling website, had for weeks put Donald Trump’s odds drastically higher than those of Vice President Kamala Harris, in sharp divergence from opinion polls, Reuters reports.
It’s “grand political theater at its worst,” the source told The New York 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.”
Coplan was not provided with a reason for the raid, but the source suspects it was political retribution since Polymarket accurately predicted an easy Trump triumph over Vice President Kamala Harris – as opposed to traditional polls.
Coplan was not arrested and has not been charged, a Polymarket spokesperson told The Post on Wednesday evening.
“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” the rep 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.”
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