CORRUPT FBI raids Polymarket CEO#FBI #DOJ #Polymarket #TheArthurNix pic.twitter.com/32BUaLh0lH
— Arthur Nix (@TheArthurNix) November 14, 2024
The FBI recently conducted a raid on the Manhattan residence of Shayne Coplan, the founder and CEO of Polymarket, a cryptocurrency-based prediction market platform.
FBI RAIDS POLYMARKET CEO’S HOME OVER POSSIBLE ELECTION INTERFERENCE The Feds just swooped in on Polymarket’s CEO, snatching up his phone and devices. Why? They’re reportedly looking into the possibility he illegally manipulated the odds to favour Trump. Watch this one closely; there could be a bigger picture play than simply seeking to enforce crypto rules… Source: New York Post – Mario Nawfal Tweet
- Seizure of Electronics: During the early morning raid, federal agents confiscated Coplan’s phone and other electronic devices. New York Post
- No Arrests Made: Despite the search and seizure, Coplan was neither arrested nor charged at the time of the raid.
- Polymarket’s Election Predictions: Prior to the 2024 U.S. presidential election, Polymarket users had predicted a victory for Donald Trump over Vice President Kamala Harris, a forecast that proved accurate.
- Allegations of Political Retaliation: A spokesperson for Polymarket suggested that the raid might be political retribution by the outgoing administration due to the platform’s correct election prediction.
- Polymarket’s Operations: Established in 2020, Polymarket allows users to bet on various events, including political outcomes, using cryptocurrency.
- Regulatory Scrutiny: The platform has faced regulatory challenges, including a $1.4 million penalty in 2022 from the Commodity Futures Trading Commission for operating an unregistered derivatives trading platform.
- International Investigations: Following significant profits made by a French trader on Trump’s election victory, French gambling regulators have initiated investigations into Polymarket’s compliance with local laws.
- Founder’s Public Response: Post-raid, Coplan humorously referenced the incident on social media, posting: “new phone, who dis?”
- FBI’s Silence: The FBI has declined to comment on the raid or the reasons behind it.
- Polymarket’s Future Plans: Despite the raid and ongoing investigations, Polymarket has expressed intentions to expand its operations and potentially re-enter the U.S. market, pending regulatory approvals.
From The People – And links
- Being reported that the FBI raided Polymarket founders home this morning & seized his phone and electronics. They gave him no reason. Polymarket predicted Trump would win. This looks like political retribution and is actually bone chilling. WTF is this administration doing.
- BREAKING: FBI raided home and seized phone of the CEO of Polymarket, a crypto-based prediction market that gained popularity for taking bets on the election. He believes the Biden DOJ raided his home in retaliation for calling the election for Trump. [via WSJ] – Texas Lindsay
- ‘LAST-DITCH EFFORT’: The FBI reportedly raided the Manhattan home of 26-year-old Polymarket CEO Shayne Coplan, seizing his phone and other electronic devices after the election betting platform correctly predicted Donald Trump’s victory – Fox News – link
