FBI raids New York City apartment of Polymarket CEO Shayne Coplan, reports say

2024-12-25 13:04:54 source:lotradecoin technical support contact category:News

Federal law enforcement agents on Wednesday raided the New York City apartment of Shayne Coplan, the founder and CEO of Polymarket, the company confirmed to Reuters.

Federal Bureau of Investigation agents seized Coplan's phone and electronics, according to Reuters. Agents raided the home about 6 a.m., and Coplan was at home during the raid.

Polymarket declined to comment on the allegations, but a spokesperson told Reuters the raid was "obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election."

Polymarket, a betting platform that uses cryptocurrency, gained popularity in the months preceding the 2024 election for offering presidential prediction markets.

On Thursday, an FBI spokesperson told USA TODAY the agency could not confirm or comment on the raid.

Polymarket: Coplan not arrested, not in custody

The company told Reuters Coplan was not arrested and was not taken into custody.

USA TODAY has reached out to Polymarket.

Last bets on Trump or Harris?Where the election odds, polls stood when America voted

What is Polymarket?

Polymarket is an online betting market that garnered popularity in the run-up to the election because it offered odds on who would win the presidency.

According to the company's online profile, it is "the world’s largest prediction market" allowing people to profit from their knowledge "by betting on future events across various topics."

Who is Shayne Coplan?

Shayne Coplan is the 26-year-old founder and CEO of Polymarket.

He lives in Manhattan.

This is a developing story.

Contributing: Reuters and Jim Sergent

Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at [email protected] and follow her on X @nataliealund.

More:News

Recommend

The burial site of the people Andrew Jackson enslaved was lost. The Hermitage says it is found

NASHVILLE, Tenn. (AP) — At least 26 enslaved people died on the Tennessee plantation of President An

Apache Group is Carrying a Petition to the Supreme Court to Stop a Mine on Land Sacred to the Tribe

GALLUP, New Mexico—A group of Apache opposing a copper mine in the Oak Flat area of Arizona stopped

'SNL' star Punkie Johnson reveals why she left the show

"Saturday Night Live" star PunkieJohnson won't be returning to Studio 8H, and she's opening up about