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

Colombian Crypto Broker Sentenced to 160 Months for Money Laundering

Colombian crypto broker Leonardo de Jesus Zuluaga Duque sentenced to 160 months for laundering $145 million in drug proceeds through cryptocurrency.

user avatarKaterina Papadopoulou

Birdeye Unveils Peak, a New Terminal for Institutional Crypto Research

Birdeye has launched Peak, a new terminal aimed at institutional crypto researchers, consolidating various data and analysis services into one professional workspace.

user avatarMaya Lundqvist

Google Implements New Advertising Policy for Crypto Providers in UAE

Google has announced new licensing and certification requirements for crypto exchanges and software wallet providers targeting customers in the United Arab Emirates.

user avatarLeo van der Veen

Meta's Board Approves New Class of Nonvoting Stock

Meta's board has approved the creation of Class C nonvoting shares to be distributed to existing Class A and Class B shareholders, effective January 19, 2027.

user avatarLi Weicheng

Meta's Financial Strategy Ensures Founder Control

Meta's financial strategy includes plans to potentially raise hundreds of billions in equity while ensuring Mark Zuckerberg retains control over the company.

user avatarAisha Farooq

BitGo Introduces BitGo Labs to Innovate in AI and Cryptocurrency

BitGo has launched BitGo Labs to develop AI-integrated applications for its digital asset infrastructure, starting with the Gokubu app.

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.