FBI Raids Polymarket CEO’s Home, Seizes Devices Amid Trump Bet Controversy

FBI Raids Polymarket CEO's Home, Seizes Devices Amid Trump Bet ControversyThe FBI reportedly raided the Manhattan apartment of Shayne Coplan, CEO of betting platform Polymarket, early Wednesday. The raid followed Polymarket’s accurate prediction of Donald Trump’s 2024 presidential victory, a result that contrasted with traditional polls. FBI agents seized Coplan’s phone and electronic devices, though he was not arrested or charged. A source close to Coplan claims the raid was “political retribution” and a tactic to pressure the platform, which some media have accused of market manipulation. Polymarket, which prohibits U.S. trading due to regulatory issues, is reportedly planning a U.S. return despite ongoing scrutiny from French and U.S. authorities. The platform was previously fined $1.4 million by the Commodity Futures Trading Commission (CFTC).

Source:news.bitcoin.com