The FBI seized the cellphone and electronics of Polymarket CEO Shayne Coplan on Nov. 13, the New York Put up reported, citing a supply.
Based on the report, the supply mentioned the federal government is allegedly attempting to accuse Polymarket of market manipulation and rigging its polls in favor of Trump. Nevertheless, as of press time, there is no such thing as a affirmation of the supply’s claims.
Moreover, the supply shared that Coplan was woken at 6:00 A.M. ET by regulation enforcement brokers at his Soho residence, who seized his units with out offering a transparent rationalization.
The supply additionally highlighted that the federal government may have requested the units by Coplan’s lawyer relatively than staging an early morning seizure.
Allegations of political motivations
The supply alleged that the seizure was politically motivated, calling it a “grand political theater at worst” and speculating that authorities focused Polymarket resulting from its correct election final result prediction. It added:
“That is apparent political retribution by the outgoing administration in opposition to Polymarket for offering a market that appropriately known as the 2024 presidential election.”
Notably, Polymarket’s predictions had been extra correct than mainstream media polls, with Ethereum co-founder Vitalik Buterin praising the platform’s potential as an efficient supply of data.
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Gino Matos
Gino Matos is a regulation faculty graduate and a seasoned journalist with six years of expertise within the crypto business. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).