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    • FBI searches home of Polymarket CEO Shayne Coplan, reports say
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    FBI searches home of Polymarket CEO Shayne Coplan, reports say

    Umito Posted on

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

    Federal Bureau of Investigation agents seized Coplan’s phone and electronic devices, according to Reuters. Officers searched the home around 6 a.m. and Coplan was at home during the raid.

    Polymarket declined to comment on the allegations, but a spokesperson told Reuters it was “clear political retaliation by the outgoing administration against Polymarket for providing a market that properly convened the presidential election of 2024.

    Polymarketa betting platform that uses cryptocurrency, has gained popularity in the months leading up to the 2024 election for offering presidential prediction markets.

    An FBI spokesperson told USA TODAY on Thursday that the agency could neither confirm nor comment on the raid.

    Polymarket: Coplan neither arrested nor detained

    The company told Reuters that Coplan had not been arrested or taken into custody.

    USA TODAY contacted Polymarket.

    Final bets on Trump or Harris? Where were the election odds, the polls were when America voted

    What is Polymarché?

    Polymarket is an online betting market that gained 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 marketplace” allowing people to profit from their knowledge “by betting on future events on 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.

    Contributors: Reuters and Jim Sergent

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

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