The FBI raided Polymarket CEO Shayne Coplan’s Manhattan home early Wednesday, seizing his phone and electronic devices just one week after the betting platform accurately predicted President Donald Trump’s reelection. The move has drawn criticism for its timing and potential political implications.
“This was unnecessary and dramatic,” a source close to the situation told The Post. “They could have handled this discreetly but chose a raid to create headlines.”
🚨🇺🇸 BREAKING: FBI SEIZES POLYMARKET CEO’S ELECTRONICS AFTER TRUMP ELECTION PREDICTION
The FBI seized Polymarket CEO Shayne Coplan’s phone and electronics at his Soho home early Wednesday, just a week after Polymarket accurately predicted Trump’s election win.
Sources close to… pic.twitter.com/tKmc8JKvAW
— Mario Nawfal (@MarioNawfal) November 13, 2024
Polymarket’s Election Day forecasts gave Trump a 58.6% chance of victory, countering traditional polling. The platform has faced allegations of market manipulation, but Polymarket defends its operations as transparent and neutral.
The raid comes as Polymarket plans a return to the U.S. market, following a $1.4 million fine in 2022 for regulatory violations. While the platform remains active internationally, the scrutiny around its operations has intensified.
This might be one of the final bosses of the “then they fight you phase”.
The FBI raiding the house of the founder of Polymarket is REALLY scary pic.twitter.com/ctSyedi0vl— Ab (@abrahamcr) November 13, 2024
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. pic.twitter.com/QaBKrSNA2x
— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) November 13, 2024
Further controversy arose after reports revealed a French trader earned $85 million through Trump-related bets on Polymarket. Although the trader denied trying to influence the election, the FBI’s actions suggest heightened concerns about the platform’s activities.
More denial is in place as @Polymarket CEO gets raided by theFBI. #crypto #blockchain #digitalassets – @elonmusk Not too soon before a takeover in DC changes these antics. pic.twitter.com/6i3PRrVvUv
— PaulBarron (@paulbarron) November 13, 2024
BREAKING: the FBI has allegedly raided the home of Polymarket founder and CEO @shayne_coplan and "demanded his phone and electronics."
We don't have all the details, but our piece from last month detailing the US government's little-known, partisan-fueled war on prediction… pic.twitter.com/nZtklhOncO
— Pirate Wires (@PirateWires) November 13, 2024
Coplan, who has not been charged, joked on social media about the incident but has not released an official statement. The raid underscores ongoing tensions between innovative markets and traditional political structures.
