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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 ...
NEW YORK (Reuters) -Federal law enforcement agents raided the downtown New York home of Polymarket CEO Shayne Coplan on Wednesday, seizing his phone and electronics, the company confirmed. The ...
The FBI searched the New York City home of Polymarket founder Shayne Coplan as part of a criminal investigation into the election betting platform, law enforcement sources told ABC News. The ...
Founded in 2020 by Shayne Coplan, [3] Polymarket is a prediction market that allows users to gain/lose on the outcome of world events. [4] In January 2022, Polymarket was fined US$1.4 million by the Commodity Futures Trading Commission (CFTC), and received a cease and desist order for regulatory violations, including failure to register as a Swap Execution Facility.
Shayne Coplan was born in 1998 and raised on the Upper West Side of New York City. [1] [3] He attended public schools in Hell's Kitchen. [1]Coplan studied computer science at New York University but left before completing his degree to pursue interests in cryptocurrencies and prediction markets.
Polymarket received attention this year after predicting the outcome of the US election. The raid related to an investigation into whether Polymarket accepted US-based trades, Bloomberg said.
To briefly recap, Polymarket was kicked out of the U.S. in 2022 for letting U.S. users bet on political prediction markets, which, at the time, was against the law.
A Polymarket spokesperson said in a statement: “This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 ...