The FBI on Wednesday raided the home of Shayne Coplan, founder and CEO of the popular prediction market Polymarket.
“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” a spokesperson for Polymarket told Axios of the raid. “Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including election.
FBI agents entered the entrepreneur’s New York City apartment at 6 a.m. Wednesday morning, or whether Coplan or Polymarket are the targets of an investigation, Axios reported.
The FBI reportedly roused the tech founder from his bed and seized his electronic devices, according to an unnamed source close to the situation who spoke with the New York Post.
It garnered mainstream attention in the run-up to the election for its odds predicting a Donald Trump victory—he was a 58 to 42 percent favorite on Polymarket a day before Election Day,
It’s concerning that the current administration would target companies perceived to align with their political opponents,
