FBI raids Polymarket CEO’s home as part of investigation into election betting platform

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FBI has raided the home of Polymarket chief executive Shayne Coplan as part of an investigation into the crypto betting platform. Federal law enforcement agents seized the 26-year-old CEO’s phone and computers from his home in downtown New York on Wednesday, in what the company claims is retaliation for its users betting overwhelmingly in favor of Donald Trump in the recent election. “We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election.” open image in gallery The company claims the FBI raid is retaliation for its users betting overwhelmingly in favor of Donald Trump in the recent election The Department of Justice is reportedly investigating Polymarket for allegedly allowing U.S.-based users to bet on the site. Polymarket declined to comment on those allegations but a spokesperson said the FBI raid was “obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election.” The company said Coplan had not been arrested or taken into custody.