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The FBI raided the home of Polymarket CEO Shayne Coplan.
The FBI raided the home of Polymarket CEO Shayne Coplan.

14.11.2024 14:32

The FBI raided the home of Polymarket CEO Shayne Coplan in New York and seized electronic devices. The incident has drawn attention due to claims that it is politically motivated, stemming from the company's operation of a prediction market for the 2024 presidential election.

The FBI conducted a sudden raid on the home of Polymarket CEO Shayne Coplan in New York, seizing his mobile phone and other electronic devices. This incident is being viewed as a political revenge due to the platform operating a prediction market for the 2024 presidential election. Statements and speculations following the event have led to further escalation of the news.

ELECTRONIC DEVICES OF CRYPTO PLATFORM EXECUTIVE SEIZED

The FBI raided the home of Shayne Coplan, CEO of the cryptocurrency prediction platform Polymarket, early in the morning. During the operation, Coplan, who was awakened from his sleep, had his mobile phone and electronic devices seized.

A spokesperson for Polymarket confirmed the incident, claiming that the raid was conducted for political reasons. The spokesperson stated that the platform's accurate predictions regarding the 2024 presidential elections disturbed the current Biden administration, describing the events as "political revenge." The company official emphasized that the platform does not charge any fees and does not hold positions in transactions, but only provides market data transparently to its users.

According to statements from individuals familiar with the matter, the operation was organized for "political show" purposes. Sources indicated that the FBI could have requested this information through legal means, but the raid method was preferred for media exposure and political purposes.

The operation took place a week after Donald Trump won the presidential election by a landslide. The platform's prediction market for the "2024 Presidential Election Winner" has reached a trading volume of $3.7 billion. Despite American users being banned from accessing the platform, it is known that they have circumvented this restriction by using VPNs.

It is known that Polymarket has previously faced issues with U.S. regulatory authorities. In January 2022, the company was forced to pay a $1.4 million fine to U.S. regulators for operating more than 900 unregistered binary options markets.


 
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