FBI agents conducted an early morning raid on the Manhattan residence of Shayne Coplan, CEO of the betting platform Polymarket, seizing his phone and electronic devices, a source close to the case confirmed.
The 26-year-old entrepreneur, surprised by the 6 a.m. raid, was reportedly not given a reason for the action. Polymarket, which allows users to wager on various political outcomes, recently gained attention for accurately predicting Donald Trump's unexpected win over Vice President Kamala Harris.
A source described the raid as "grand political theater," alleging that law enforcement could have requested the devices through Coplan’s attorney but chose a high-profile raid instead. Speculation surrounds the event, with some suggesting that Polymarket’s alignment with Trump-leaning predictions and accusations of market manipulation from liberal media may have influenced the government’s actions. Coplan has yet to make a statement, and the FBI has not disclosed details on the nature of the investigation.
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