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The FBI raided the home of Polymarket CEO Shane Coplan on Wednesday morning and seized his electronic devices, a company spokesman said. certain To Axios.
It’s not clear what the FBI was looking for — or whether Polymarket, Coplan, or both were targets of the investigation.
Polymarket, one of the most active predictive betting markets, gained significant attention during the recent US presidential election. The law prohibits Americans from using the market, which recently raised more than $80 million from investors including Peter Thiel’s Founders Fund.
In a statement to Axios, a spokesperson called the move “clear political retaliation by the outgoing administration against Polymarket for providing a marketplace that correctly called for the 2024 presidential election.” “Polymarket is a completely transparent prediction market that helps ordinary people better understand the events that matter to them, including elections,” they added.
Prediction markets, including Polymarket and its competitors, Kalshi and PredictIt, paid hundreds of millions of dollars to the top candidates in the election after Donald Trump’s victory.
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