FBI agents raided the Manhattan apartment of Polymarket CEO Shayne Coplan on Nov. 13, according to the New York Post.<\/p>\n
US law enforcement agents demanded Coplan turn over his phone and other electronic devices, The Post wrote<\/a> in an exclusive citing a source close to the matter.<\/p>\n The raid happened one week after Polymarket accurately predicted<\/a> Donald Trump\u2019s victory <\/a>over Kamala Harris in the presidential election with odds of 58.6% for Trump vs 41.4% for Harris.<\/p>\n Polymarket coming out strong against this FBI raid\u2026<\/p>\n \u201cThis is obvious political retribution\u201d<\/p>\n \u201cPolymarket is a fully transparent prediction market\u201d<\/p>\n Need Polymarket bet asap on whether they did anything illegal.<\/p>\n via @aosipovich<\/a> pic.twitter.com\/DUXh0bsS00<\/a><\/p>\n \u2014 Nate Geraci (@NateGeraci) November 14, 2024<\/a><\/p>\n\n The outlet\u2019s source claims this is \u201cpolitical retribution\u201d from the outgoing administration. It is \u201cgrand political theater at its worst,\u201d they said before adding:<\/p>\n \u201cThey could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.\u201d<\/p>\n No reason for the raid was given to Coplan, and no charges were filed.\u00a0There was also speculation that the government is \u201clikely piggybacking off liberal media reports\u201d that accused Polymarket of market manipulation and rigging its polls.\u00a0Coplan posted on X that he had to get a new phone following the raid.<\/p>\n new phone, who dis?<\/p>\n \u2014 Shayne Coplan (@shayne_coplan) November 13, 2024<\/a><\/p>\n\n In a later post, he said, \u201cIt\u2019s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents,\u201d before adding:<\/p>\n \u201cWe are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election.\u201d<\/p>\n The FBI raid comes a week after Coplan said Polymarket was planning to return to the US. However, his stance may be a little different now.<\/p>\n Polymarket was targeted in the Democrat\u2019s war on crypto and had previously paid a $1.4 million fine to the CFTC in 2022 for registration failure.\u00a0The betting platform is also facing scrutiny from France\u2019s gambling regulator over compliance issues.<\/p>\n In late October, Fortune reported<\/a> that analysts at two crypto research firms had found evidence of \u201crampant wash trading\u201d on the betting platform. Polymarket denied the accusation, stating that it was fully transparent.<\/p>\n The post FBI Raids Polymarket CEO\u2019s Apartment in Potential \u2018Political Retribution:\u2019 Report<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" FBI agents raided the Manhattan apartment of Polymarket CEO Shayne Coplan on Nov. 13, according to the New York Post. US law enforcement agents demanded Coplan turn over his phone and other electronic devices, The Post wrote in an exclusive citing a source close to the matter. The raid happened one week after Polymarket accurately […]<\/p>\n","protected":false},"author":0,"featured_media":20510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20509","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\/20509"}],"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=20509"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20510"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Political Retribution<\/h2>\n
Targeted by Regulators<\/h2>\n