FBI
Polymarket CEO probed by FBI after Trump’s triumph
Published
4 months agoon
By
admin

Federal agents from the FBI seized mobile devices owned by Polymarket Shayne Coplan after users on his Polygon-based correctly predicted Donald Trump’s victory.
The New York Post reported that Federal Bureau of Investigation officers impounded Coplan’s devices during a 6 AM search at his Soho property on Nov. 13. A source with intimate knowledge of the matter reportedly said Polymarket’s CEO was woken by FBI agents but not given reasons for the probe.
Coplan has not made a public statement regarding the incident and has remained relatively inactive on X since his victory lap following the election results.
What the unnamed source described as “grand political theater at its worst” came a week after Republican Donald Trump defeated Democrat Kamala Harris in the presidential electoral polls. Polymarket users traded over $3 billion on who would win. Odds on the platform suggested Trump would emerge on top weeks before the election, raising eyebrows in the U.S.
The FBI’s bust could be an inquiry into Polymarket’s operations, the source told the NYP. If true, executives at companies like Kalshi and Robinhood may be next on the Fed’s list. Kalshi launched its event contract for the presidential race after beating the Commodity Futures Trading Commission in court. Robinhood followed later with its own event market.
Presidential betting contracts were all the rage during this year’s election cycle. Data from these venues were constantly compared against national polls. They sometimes received backlash for supposed wash trading and were accused of being influenced by either party.
Skepticism came to a head when a New York Times article said Polymarket’s contracts were manipulated by a large pro-Trump user. The whale, revealed to be a French national, clarified that his big bets were based on voting patterns and encouraged by skewed national polling data.
Theo4 bagged $79 million across four accounts as Polymarket users accurately predicted a Trump victory. Coplan’s company rose even higher in the mainstream spotlight as a venue for accurate user-driven outcomes for real-world events.
The prominence brought a new wave of scrutiny of Polymarket. As crypto.news reported, the French government threatened to ban Coplan’s site and block users from betting on the French elections.
Source link
You may like
CryptoQuant CEO Sounds The Alarm
South Korea Dismisses Establishing Strategic Bitcoin Reserve
TokenPicks Launches Reward System to Incentivize Crypto Education
Ethereum leadership now eyes Solana-style growth, Dragonfly’s Qureshi says
SEC’s Uyeda Signals Possible Revisions to Crypto Custody Rule
Mubarak Meme Coin Trader Turns $232 Into $1.1 Million, Here’s How

CryptoQuant CEO Sounds The Alarm

South Korea Dismisses Establishing Strategic Bitcoin Reserve

TokenPicks Launches Reward System to Incentivize Crypto Education

Ethereum leadership now eyes Solana-style growth, Dragonfly’s Qureshi says

SEC’s Uyeda Signals Possible Revisions to Crypto Custody Rule

Mubarak Meme Coin Trader Turns $232 Into $1.1 Million, Here’s How

Solana Protected Gender Identity Before Panning It in Anti-Queer Ad

Musk says he found ‘magic money computers’ printing money ‘out of thin air’

XRP To Triple Digits? Analyst Confident In $100 Price Goal

What Are They And What Do They Do?

Trader Predicts Crypto Rallies Amid Expectations of Fed Monetary Policy Shift – But There’s a Catch

Solana’s 5th birthday highlights explosive growth and trading activity: Mercuryo

Trump, Associates Net $390 Million Payday From World Liberty Token Sale

Bitcoin Price Eyes $200,000 Breakout If This History Aligns

Gold-Backed Tokens Outperform as ‘Bond King’ Gundlach Sees Precious Metal Hit $4,000

Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025

Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist

Aptos Leverages Chainlink To Enhance Scalability and Data Access

Bitcoin Could Rally to $80,000 on the Eve of US Elections

Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje

Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals

Crypto’s Big Trump Gamble Is Risky

Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x

Has The Bitcoin Price Already Peaked?

A16z-backed Espresso announces mainnet launch of core product

Xmas Altcoin Rally Insights by BNM Agent I

Blockchain groups challenge new broker reporting rule

Trump’s Coin Is About As Revolutionary As OneCoin

Is $200,000 a Realistic Bitcoin Price Target for This Cycle?

Ripple Vs. SEC, Shiba Inu, US Elections Steal Spotlight
Trending
- 24/7 Cryptocurrency News4 months ago
Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
- Bitcoin2 months ago
Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
- 24/7 Cryptocurrency News2 months ago
Aptos Leverages Chainlink To Enhance Scalability and Data Access
- Bitcoin4 months ago
Bitcoin Could Rally to $80,000 on the Eve of US Elections
- Altcoins2 months ago
Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
- Bitcoin4 months ago
Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
- Opinion4 months ago
Crypto’s Big Trump Gamble Is Risky
- Price analysis4 months ago
Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x