The FBI seized Polymarket CEO Shayne Coplan’s phone and electronics early Wednesday morning — just a week after the election-betting platform successfully predicted President-elect Donald Trump’s win, The Post has learned.
The 26-year-old entrepreneur was woken up at 6:00 a.m. in his Soho home by law US enforcement officers who demanded his phone and electronics, a source close to the matter told The Post.
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.”
Coplan was not provided any reason for the incident, but the source said they expect it is political retribution since Polymarket accurately predicted Trump’s win – not traditional polls.
The government is likely trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump, the source said.
“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.
“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” a Polymarket spokesperson told The Post in a statement.
“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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The last crime from Biden administration before he leaves...
@7G3GHNGLibertarian1yr1Y
The timing of this is interesting. A lot of attention on decentralized markets lately
Polymarket was already controversial. but this is next level drama
@SolidL3ftWingGreen1yr1Y
Well he’s not going to like what happens when u operate an unlicensed gambling site
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