Agents raided Shayne Coplan’s home Wednesday morning, reportedly seizing the predictive betting platform founder’s electronic devices.
The FBI on Wednesday raided the home of Shayne Coplan, founder and CEO of the popular prediction betting market Polymarket.
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 theThe decentralized platform allows users to place bets on a wide array of future events, including weather patterns, economic indicators, and political outcomes.Jabin Botsford/The Washington Post via Getty Images
One French bettor, known only as “Théo,” reportedly saw a nearly $50 million payday from wagers placed on the presidential election, including that Trump would win the presidency, the popular vote, and all three “blue wall” swing states—all of which proved correct. Polymarket has denied any wrongdoing and suggested that the raid on its CEO was a politically motivated act of revenge.
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