FBI Raid on Polymarket CEO Sparks Allegations of Political Bias After Accurate Trump Prediction

Clear Facts

• The FBI reportedly raided the home of Polymarket CEO Shayne Coplan in Manhattan following the platform’s accurate prediction of Donald Trump’s 2024 presidential victory.
• Polymarket claims to be a transparent prediction market, with no trading fees or positions, allowing global observers to analyze market data.
• Shayne Coplan suggested the raid might be politically motivated, criticizing the current administration for targeting companies linked to political opponents.

In a surprising turn of events, the FBI has reportedly conducted a raid on the Manhattan residence of Shayne Coplan, the CEO of Polymarket. This action comes on the heels of the betting platform’s accurate prediction of Donald Trump’s triumph in the 2024 presidential election.

The raid saw FBI agents confiscating Coplan’s phone and other electronic devices from his SoHo apartment.

Shortly after the raid, Coplan took to social media platform X with a light-hearted post, “new phone, who dis?”

Polymarket, known for its transparent prediction markets, allows users to gain insights into significant events, such as elections.

The company emphasizes its commitment to transparency, stating, “Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections. We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good.”

The timing of the FBI’s actions has raised eyebrows, as it occurred just a week after Polymarket showed Trump with a 58.6% chance of winning on Election Day.

Coplan expressed his concerns about potential political motivations behind the investigation, writing on X, “It’s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents.”

He further criticized the administration’s approach, suggesting they should consider a “more pro-business, pro-startup approach” to improve their electoral fortunes.

The platform has attracted significant investment, including $70 million from Peter Thiel’s Founders Fund.

In a notable post-election outcome, a French bettor known as Théo reportedly netted an $85 million profit from Trump bets on Polymarket. Théo expressed a desire to return to normal life, stating, “I have nothing more to add. To be frank, I’m a bit tired of the whole thing – I’d like to fade back into my normal daily life.”

Neither the Department of Justice nor Shayne Coplan has responded to requests for comment, while the FBI has also declined to provide any statements regarding the matter.

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