The Federal Bureau of Investigation has seized the phone and electronic devices of Polymarket CEO Shayne Coplan. The situation raises discussions about potential election interference.
FBI Conducts Raid on Polymarket CEO
According to the NY Post, FBI agents visited Shayne Coplan on Wednesday morning New York time to demand access to all electronic devices. A source cited by the NY Post claims the FBI organized a raid rather than contacted Coplan’s lawyer.
Background and Circumstances
The raid draws parallels with this year's arrest of Pavel Durov in France, where the platform was pressured over unauthorized encryption. According to the source, the authorities aimed to accuse Polymarket of influencing public opinion and affecting election results. Coplan himself was not arrested and reportedly not physically present during the raid.
Controversy Surrounding Polymarket and Elections
The raid came days after Polymarket predicted the US election results earlier than other media outlets. The leading betting pair pointed to a decisive Trump victory, sparking questions of election interference. All activity on Polymarket is fully transparent on-chain. Some users claimed the platform was used to sway public opinion.
The situation regarding the raid and seizure of Shayne Coplan's devices raises many questions about Polymarket's influence and transparency in the election process.
