The FBI raided the Manhattan apartment of Shayne Coplan, CEO of Polymarket, early Wednesday morning, just one week after the betting platform correctly predicted President Donald Trump’s reelection. Agents seized Coplan’s phone and electronic devices, fueling speculation about the motivations behind the investigation.
“This is grand political theater,” a source close to Coplan told The Post. “They could have gone through his lawyer. Instead, they orchestrated a raid to generate media attention.”
🚨🇺🇸 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, a prediction market platform, had shown Trump with a 58.6% chance of winning on Election Day, sharply contrasting traditional polling. Critics have accused the platform of market manipulation, though Polymarket has consistently denied the allegations, maintaining it operates transparently.
The company has faced scrutiny before, including a $1.4 million fine in 2022 for operating without registering with U.S. regulators. Despite these challenges, Polymarket recently announced plans to re-enter 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
Reports of an $85 million profit by a French trader on Trump-related bets have intensified questions surrounding the platform. While the trader denied any intent to influence election outcomes, the raid on Coplan’s home has raised concerns about potential political retaliation.
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 was not charged, responded lightheartedly on social media with the post: “New phone, who dis?” Despite the humor, the raid highlights growing tensions between innovative platforms and government agencies.
