{"id":20433,"date":"2024-11-14T09:35:55","date_gmt":"2024-11-14T09:35:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=20433"},"modified":"2024-11-14T09:35:55","modified_gmt":"2024-11-14T09:35:55","slug":"fbi-raids-polymarket-ceo-shayne-coplans-home-seizes-electronics","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=20433","title":{"rendered":"FBI Raids Polymarket CEO Shayne Coplan\u2019s Home, Seizes Electronics"},"content":{"rendered":"

On November 13, the United States Federal Bureau of Investigation (FBI) raided the New York City residence of Polymarket CEO Shayne Coplan, seizing his phone and electronic devices. <\/span><\/p>\n

The raid, which occurred at 6:00 a.m. Eastern Time, was part of an ongoing investigation, the New York Post <\/span>reported<\/span><\/a>, citing a source close to the matter.<\/span><\/p>\n

Polymarket, a blockchain-based prediction market, has gained attention for its $3.7 billion <\/span>in<\/span> bets placed on the<\/span> \u201c<\/span>Presidential Election Winner 2024<\/span>\u201d <\/span>market. <\/span><\/p>\n

EXPLORE:\u00a0<\/span>Bitcoin Surges to Record High as Trump Wins\u00a0U.S.\u00a0Election<\/span><\/a><\/strong><\/p>\n

Polymarket Accurately Predicts <\/span>Trump\u2019s<\/span> Win<\/span><\/h2>\n

The platform accurately predicted Donald <\/span>Trump\u2019s<\/span> landslide victory, fueling speculation about its influence on public opinion.<\/span><\/p>\n

\u201c<\/span>I<\/span>t\u2019s<\/span> discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents,<\/span>\u201d <\/span>Coplan said in a subsequent post on X. <\/span><\/p>\n

\u201cW<\/span>e are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that <\/span>taking a more pro-business<\/span>, pro-startup approach may be what would have changed their fate this election<\/span>.\u201d<\/span><\/p>\n

It\u2019s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents. We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting\u2026<\/p>\n

\u2014 Shayne Coplan (@shayne_coplan) November 13, 2024<\/a><\/p>\n\n

Polymarket has faced scrutiny before. In January 2022, the platform paid a $1.4 million settlement to the Commodity Futures Trading Commission (CFTC) for operating unregistered event-based binary options markets.<\/span><\/p>\n

While Polymarket officially blocked U.S. users following the settlement, critics argue that users can bypass the restriction using virtual private networks (VPNs).<\/span><\/p>\n

The raid also sparked a <\/span>backlash<\/span> from tech leaders. Coinbase CEO Brian Armstrong posted on X, using strong language to criticize the administration, stating,<\/span> \u201c<\/span>This will backfire\u2014they just made Polymarket even more powerful.<\/span>\u201d <\/span><\/p>\n

Elon Musk, CEO of Tesla and SpaceX, echoed these sentiments, describing the raid on X as \u201cmessed up.\u201d <\/span>Musk is set to co-lead a Department of Government Efficiency<\/a> under <\/span>Trump\u2019s<\/span> incoming administration.<\/span><\/p>\n

Founded in 2020, Polymarket allows users to bet on <\/span>various<\/span> topics, from election outcomes to sports and weather. The latest raid has brought the platform under intense scrutiny, further cementing its controversial role in blending blockchain and political discourse.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>17 Best Crypto to Buy Now in 2024<\/span><\/a><\/strong><\/p>\n

France Plans to Block Access to Polymarket<\/span><\/h2>\n

France\u2019s<\/span> National Gaming Authority (ANJ)\u00a0is reportedly planning\u00a0to block access to Polymarket. The regulator is <\/span>currently<\/span> investigating <\/span>Polymarket\u2019s<\/span> operations to assess its compliance with French gambling laws.<\/span><\/p>\n

The scrutiny intensified after a French trader, identified as<\/span> \u201c<\/span>Theo,<\/span>\u201d <\/span>placed multimillion-dollar bets on Donald <\/span>Trump\u2019s<\/span> re-election. Following Trump\u2019s victory, Theo reportedly earned a $47 million payout<\/span>, sparking widespread regulatory concerns.<\/span><\/p>\n

Meanwhile, Polymarket has ignited speculation about a potential token launch, fueling excitement among its community. <\/span><\/p>\n

A message shared with users claiming winnings hinted at future<\/span> \u201c<\/span>drops,<\/span>\u201d <\/span>suggesting that actively reinvesting rewards into other markets could lead to enhanced benefits, <\/span>potentially<\/span> including token airdrops.<\/span><\/p>\n

This development aligns with reports from September that Polymarket was exploring a $50 million fundraising round and considering a token launch. <\/span><\/p>\n

While the platform has historically avoided confirming token plans despite its significant trading volumes, the recent hints have heightened anticipation among its user base.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>15 Best No KYC Crypto Exchanges for 2024<\/span><\/a><\/strong><\/p>\n

Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/p>\n

The post FBI Raids Polymarket CEO Shayne Coplan\u2019s Home, Seizes Electronics<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

On November 13, the United States Federal Bureau of Investigation (FBI) raided the New York City residence of Polymarket CEO Shayne Coplan, seizing his phone and electronic devices. The raid, which occurred at 6:00 a.m. Eastern Time, was part of an ongoing investigation, the New York Post reported, citing a source close to the matter. […]<\/p>\n","protected":false},"author":0,"featured_media":20434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20433"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20433"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20434"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}