FBI Conducts Raid on Polymarket CEO Following Election Predictions

user avatar

by Giorgi Kostiuk

2 years ago

FBI conducted a raid and seized devices from Shayne Coplan, CEO of Polymarket, following users' correct prediction of Donald Trump's victory.

Raid and Device Seizure

According to The New York Post, FBI agents seized Shayne Coplan's devices during a 6 AM search at his Soho residence on November 13. A source reported that Coplan was awakened by FBI agents but was not given reasons for the search.

Political Context

A week before the raid, user activity on Polymarket predicted Donald Trump's victory over Kamala Harris in the presidential election. Over $3 billion was traded on the platform to wager on the election's outcome, and the odds suggesting Trump's victory raised eyebrows in the U.S.

Reactions and Consequences

This event could indicate an inquiry into Polymarket's operations. The NYP source suggested that the investigation might extend to other industry players, such as Kalshi and Robinhood. Meanwhile, in France, the government threatened to ban the site due to similar situations in their elections.

The raid at Coplan's home increased scrutiny of Polymarket and its operations, drawing new attention to the issue of using platforms for political predictions.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bybit Confirms Support for Avalanche v1150 Upgrade

Bybit has confirmed support for the Avalanche v1150 upgrade, ensuring continued compatibility for AVAX users.

user avatarTomas Novak

Bybit Launches OURAUSDT Pre-IPO Perpetual Contract

Bybit has launched OURAUSDT, a pre-IPO perpetual contract, allowing leveraged trading on Oura's implied valuation before its public listing.

user avatarKaterina Papadopoulou

Binance Expands Use of Tokenized Stocks for Margin Utility

Binance has introduced a new feature allowing users to use eligible bStocks as collateral in its MultiAssets Mode.

user avatarMaya Lundqvist

Binance Introduces 24/7 Foreign Exchange Perpetual Contracts

Binance has launched a new trading model for 24/7 trading of foreign exchange perpetual contracts, starting with a contract linked to the US dollar and Brazilian real.

user avatarLeo van der Veen

Ondo Finance Streamlines Institutional Stock Tokenization

Ondo Finance has introduced a new integration that simplifies the process of institutional stock tokenization by allowing direct contribution of existing equity inventory.

user avatarLi Weicheng

Investigation into Zondacrypto Founder’s Disappearance Intensifies

The investigation into the disappearance of Zondacrypto founder Sylwester Suszek has intensified as Polish police search a fuel depot linked to his last known whereabouts.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.