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

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

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.