The FBI has seized the phone and computer of Shayne Coplan, CEO of the election-betting platform Polymarket, following the company’s accurate prediction of Donald Trump’s victory in the 2024 presidential race.
The seizure, which took place during a dawn raid at Coplan’s Soho home on Wednesday, has raised questions and stirred controversy.
Sources told the New York Post that Coplan, 26, was not arrested during the raid and was not given a clear explanation for the action.
However, the incident appears to be linked to Polymarket’s controversial success in forecasting Trump’s win, a prediction that outsmarted traditional political polls.
An insider described the FBI’s actions as “grand political theater at its worst,” accusing the authorities of using the raid for political purposes.
“They could have asked his lawyer for any of these things. Instead, they staged a so-called raid to leak it to the media and use it for obvious political reasons,” the source said.
READ ALSO: Michigan Mother Charged with Murder After 2-Year-Old Daughter Was Found Dead
Polymarket, which operates as a prediction market where users can bet on political outcomes, had signaled weeks in advance that Trump would win the election.
After the results were confirmed, Coplan boasted on social media: “Make no mistake, Polymarket single-handedly called the election before anything else. The global truth machine is here, powered by the people.”
Polymarket has defended its operations, calling itself a “fully transparent prediction market” that charges no fees, takes no positions in trading, and allows global observers to analyze the data.
The company has garnered attention for its accuracy, with figures like Elon Musk and statistician Nate Silver praising its ability to forecast election results.
While the FBI has not publicly commented on the raid, the incident is raising concerns about possible political motivations behind the investigation, particularly given Polymarket’s success in predicting a controversial election outcome.