FBI Raids Polymarket CEO Over Settlement Violation

The FBI's raid on Polymarket CEO Shayne Coplan's home, seizing his electronic devices, has raised suspicions of political motivation, given Polymarket's accurate prediction of Donald Trump's 2024 presidential victory. The raid appears linked to allegations that Polymarket allowed U.S. users to access its platform, violating a 2022 settlement agreement. Coplan and others in the cryptocurrency sector have criticized the raid as political retribution by the current administration. Despite Polymarket's claim of being a non-partisan, transparent prediction market, the investigation focuses on whether the platform operated as an unlicensed commodities exchange. The seizure of Coplan's devices has sparked debate about the administration's approach to new industries and raised questions about the role of prediction markets in political forecasting.