Official DOJ announcements or court records

FBI Raids Polymarket CEO Shayne Coplan's Home at 6 am Amid DOJ Probe After Trump Win Prediction

Nov 13, 2024, 10:31 PM

At 6 am on November 13, 2024, federal agents raided the SoHo, New York residence of 26-year-old Shayne Coplan, the founder and CEO of Polymarket, a crypto-based prediction market platform. The FBI seized Coplan's phone and electronics as part of an investigation by the Department of Justice (DOJ). The DOJ is probing Polymarket for allegedly accepting trades from U.S.-based users, which may violate U.S. trading restrictions. The FBI reportedly gave no reason for the raid. Polymarket had accurately predicted Donald Trump's win in the 2024 presidential election when traditional polls did not, leading some to speculate that the raid is politically motivated. The company described the raid as 'obvious political retribution' by the outgoing administration and emphasized its commitment to being a fully transparent and non-partisan platform.