OAN Staff Blake Wolf
5:50 PM – Thursday, November 14, 2024
FBI agents reportedly raided the New York City apartment of Polymarket founder and CEO, Shayne Coplan, on Wednesday, after his platform correctly predicted that Donald Trump would win the 2024 election.
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26-year-old Coplan founded “the world’s largest prediction market,” Polymarket, which allows users to bet on the 2024 presidential election using cryptocurrency.
Meanwhile, federal agents seized Coplan’s phone and other electronic devices while conducting the raid at around 6 a.m. on Wednesday.
Coplan was home for the raid, however, he was not arrested, according to surfacing reports.
The company, founded in 2020, correctly predicted Trump’s victory and responded to the surprise raid, claiming that it was “obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election.”
“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections. We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good. We look forward to standing up for ourselves and our community and continuing to help everyday people understand important world events,” the statement continued.
Additionally, Coplan himself responded to the raid in numerous X (Twitter) posts, joking “new phone, who dis?” after getting his devices seized in the raid.
Coplan continued, criticizing the Biden-Harris administration for the seemingly unjust raid.
“It’s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents. We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election,” Coplan continued.
“Polymarket has provided value to 10’s of millions of people this election cycle, while causing harm to nobody. We’re deeply proud of that. I’m also proud to say that the future of America, and in particular American entrepreneurship, has never been brighter. In the face of adversity, we build,” he added.
The company saw over $3.6 billion placed in bets on the presidential election.
Many began to question the identities of the major betters as the cryptocurrency system allows for anonymity, and some have questioned whether or not the Polymarket platform played any effect on voters’ perception of the race.
The scope of the federal raid is currently unclear.
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