Federal agents raided the home of Polymarket CEO Shayne Coplan early Wednesday, seizing his phone and other electronics just one week after the platform accurately predicted President Donald Trump’s reelection. The move has sparked accusations of political retaliation from Polymarket supporters.
“This is blatant political theater,” a source close to the situation told The Post. “They could have gone through legal channels, but instead, they staged 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 had shown Trump as the likely victor on Election Day, with a 58.6% chance compared to Vice President Kamala Harris’ 41.4%. Critics allege that the platform manipulated markets to favor Trump, though Polymarket denies any wrongdoing, stating its operations are fully transparent.
The platform has a history of regulatory issues. In 2022, Polymarket halted U.S. trading and paid a $1.4 million fine for failing to register with the Commodity Futures Trading Commission. Despite these setbacks, the company recently announced plans to return to the U.S. market.
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
Adding to the controversy, a French trader reportedly earned $85 million on Trump-related bets through Polymarket. The trader has denied any intent to influence the election, but the FBI’s involvement has raised concerns about potential government overreach.
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’s social media response to the raid—“New phone, who dis?”—has drawn attention, though the larger implications of the investigation remain unclear. The incident highlights ongoing clashes between political interests and platforms challenging the status quo.
