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BREAKING: Early Wednesday, the FBI confiscated the phone and other electronic devices of Polymarket CEO Shayne Coplan from his residence in Soho.
This action comes shortly after Polymarket successfully forecasted Donald Trump's victory in the election based on market bets.
Insiders close to Coplan describe the seizure as “grand political theater at the worst," suggesting it's a response to Polymarket's more accurate predictions compared to conventional polls.
“They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons,” said a source to the New York Post.
There are allegations from the government that suggest possible market manipulation to benefit Trump.
“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election.”
