FBI raids home of crypto platform Polymarket CEO, seizes phone
The Federal Bureau of Investigation on Wednesday carried out a raid at the home of Shayne Coplan, CEO of cryptocurrency prediction outlet Polymarket.
Authorities seized Mr Coplan’s phone during the raid, according to New York Post which first reported the incident.
Mr Coplan, 26, has been running the famous platform for bets throughout the 2024 presidential election in the United States.
It wasn’t immediately clear why the search was conducted, but Polymarket promptly said it might be due to its activities during the election. Users on the platform had correctly predicted Donald Trump was going to defeat Kamala Harris. The company paid out a substantial amount to winners following the election.
“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 said in a statement from its headquarters in New York. “Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections.”
It was unclear whether or not the FBI would be filing charges after the raid.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
Turkish comedian Göktaş convicted for ‘insulting’ Erdoğan
The court has also placed the comedian on a travel ban.
Anti-Corruption
21 companies convicted, fined N30 million each over illegal investment schemes: EFCC
The commission said the companies were prosecuted following actionable intelligence.
States
Olojo Festival: Ooni tasks politicians on prioritising welfare of Nigerians
The traditional ruler urged politicians to work towards building a peaceful, united and prosperous Nigeria.
World
Court convicts three Egyptians for murder of Italian postgraduate student
The trial of the security officials was conducted in absentia.
States
2027: Kano police charge officers to remain neutral, apolitical
The CP appreciated the officers for their dedication, resilience and unwavering commitment to crime prevention.
World
U.S. vows to protect Christians in Nigeria against genocide
The U.S. urged Nigeria to maintain the momentum and defend the Barkin Ladi communities in particular.
