Federal agents seized cellphones and electronic devices in an early morning raid on Polymarket CEO Shane Coplan's Manhattan apartment, after the cryptocurrency gambling platform announced that Donald Trump would be the first to vote in the 2024 presidential election. -This was just one week after correctly predicting Trump's stunning victory.
of new york post report The FBI reportedly raided the SoHo apartment of 26-year-old Shayne Coplan, founder and CEO of prediction market platform Polymarket, in the early morning hours. Officials said it was not clear why Koplan had his cellphone and other electronic devices confiscated, but they suspect the raid was politically motivated.
The source said the government's actions were a form of “grand political theater” and retribution for the polymarket that accurately predicted Donald Trump's landslide victory over Vice President Kamala Harris in the 2024 presidential election. I'm thinking. Traditional polls have shown different results, and Polymarket's predictive success was remarkable.
There is also speculation that the FBI is acting on recent left-wing media reports accusing Polymarket of manipulating the market and rigging polls in Trump's favor. However, a Polymarket spokesperson said the platform is “fully transparent” and allows observers around the world to analyze all market data as a public good.
Despite the raid, Koplan was not arrested or charged. Later, he posted on X/Twitter, “Who dissed the new phone?” It shows his reaction to the situation. He added another tweet criticizing the Biden administration shortly after the raid.
Polymarket does not allow trading in the US, but bettors can access it using a VPN, but it is planning a return to the US market. The platform also has ties to Trump allies, with Trump supporter billionaire Peter Thiel reportedly raising about $70 million for the company.
In 2022, Polymarket was forced to suspend trading in the United States and pay a $1.4 million penalty for failing to register with the Commodity Futures Trading Commission. Since then, the platform has only been available to bettors from other countries.
After the election, a mysterious French trader known as “Theo” reportedly made millions of dollars in profits betting against Trump on Polymarket. As Breitbart News previously reported:
The 2024 US presidential election saw not only Donald Trump's historic return to the White House, but also the emergence of a French gambling “whale” who turned his bold predictions into huge profits. The mystery trader, identified only as Theo, bet a total of $30 million in four separate accounts on Polymarket, billed as “the world's largest prediction market,” that Trump won both the Electoral College and the popular vote. bet that he would win.
Teo's risky gamble paid off in spades as the election results confirmed Trump's current vice president, Kamala Harris,'s defeat. The Theo4 Polymarket account alone secured approximately $22 million in profits, while the trader's other three accounts (Fredi9999, PrincessCaro, and Michie) collectively earned another $26 million. This brings Theo's total earnings to an astonishing $48 million, vaulting him to the top of Polymarket's all-time prize money list.
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Lucas Nolan is a reporter for Breitbart News, covering free speech and online censorship issues.
