- The New York Post published a news article claiming that the Federa Bureau of Investigation had seized the Polymarket CEO’s phones and electronics.
- Sources reportedly see this as political revenge after the betting market platform predicted the 2024 US election.
The Federal Bureau of Investigation (FBI) reportedly confiscated cellphones and electronics belonging to Polymarket CEO Shayne Coplan.
On November 13, the New York Post reported that the FBI seized Coughlan’s phone early Wednesday morning, and sources said FBI agents raided the Polymarket CEO’s home at 6 a.m. According to NY Post news, Coplan was at his home in Soho when law enforcement seized the device.
New York did not detain the Polymarket CEO while the FBI took his items, sources said. Coplan also has not made any public comments on the report at the time of writing. But the Post is alleging political retaliation.
“The government is likely to try to accuse Polymarket of manipulating markets and polling in Trump’s favor,” the New York Post wrote, citing anonymous sources.
The FBI’s raid came just a week after betting markets correctly predicted Donald Trump’s victory in the presidential election.
The president-elect defeated Democrat Kamala Harris and began assembling her cabinet and team, including forming the Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy.