FBI seizes Polymarket CEOs devices to allegedly probe potential market manipulation in elections bets
The FBI seized the phone and electronics of Polymarket CEO Shayne Coplan on Nov. 13, the New York Post reported, citing a source.
According to the report, the source said the government is allegedly trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump. However, as of press time, there is no confirmation of the sources claims.
Additionally, the source shared that Coplan was woken at 6:00 A.M. ET by law enforcement agents at his Soho residence, who seized his devices without providing a clear explanation.
The source also highlighted that the government could have requested the devices through Coplans attorney rather than staging an early morning seizure.
Allegations of political motivations
The source alleged that the seizure was politically motivated, calling it a grand political theater at worst and speculating that authorities targeted Polymarket due to its accurate election outcome prediction. It added:
This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election.
Notably, Polymarkets predictions were more accurate than mainstream media polls, with Ethereum co-founder Vitalik Buterin praising the platforms potential as an effective source of information.
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Text source: CryptoSlate
