In a dramatic pre-dawn operation, FBI agents reportedly stormed the SoHo apartment of Polymarket CEO Shayne Coplan, seizing his phone and electronic devices. The raid comes just days after his platform accurately predicted Trump's 2024 presidential victory, sparking accusations of political retribution.
The 26-year-old CEO responded with defiant humor on social media, posting "new phone, who dis?" hours after the raid. His company called the action "obvious political retribution by the outgoing administration" against their platform for correctly calling the election outcome.
Polymarket, which has attracted about $70 million from high-profile investors including Peter Thiel's Founders Fund, has been making waves in the prediction market space. The platform notably showed Trump holding a 58.6% chance of winning on Election Day - a forecast that proved remarkably accurate and potentially lucrative for some users, including a French bettor who reportedly pocketed $85 million on Trump-related bets.
"We are deeply committed to being non-partisan," Coplan wrote on social media, suggesting the current administration should consider whether a more "pro-business, pro-startup approach" might have changed their electoral fortunes. The platform maintains it operates transparently, charges no fees, takes no trading positions, and makes all market data publicly available.
The FBI and Department of Justice have declined to comment on the ongoing investigation, while Coplan's team argues the platform simply helps "everyday people better understand the events that matter most to them."