FBI Raids Polymarket CEO's Home in Investigation

The FBI raided the Manhattan apartment of Shayne Coplan, the 26-year-old CEO of Polymarket, following the site's accurate prediction of Donald Trump's presidential election victory. The raid, described by insiders as politically motivated, involved the seizure of Coplan's phone and other electronics, with sources suggesting it was a response to Polymarket's controversial betting on U.S. elections. Critics, including Coplan, argue that the raid represents political retribution by the outgoing administration against a platform that correctly forecasted the election results. Polymarket, which has been barred from offering services in the U.S. since 2022, allows users to bet on various events using cryptocurrency, despite legal restrictions on U.S. participation. The platform's predictions, notably on Trump, have attracted significant media attention and skepticism regarding possible market manipulation. Coplan maintains that Polymarket remains non-partisan and has vowed to continue its operations in the face of adversity.