The FBI raided the home of Polymarket CEO Shayne Coplan, who has since claimed that he is the victim of “political retaliation” after his phone and computer equipment were seized. Polymarket is a crypto betting platform that allows users to make predictions on events such as elections. The company was raided without a warrant, and Coplan was not arrested.
The US has officially banned Polymarket for US citizens, and the company will cease operations in the US in 2022 after reaching a $1.2 million settlement with the Commodity Futures Trading Commission (CFTC). The company is now being investigated by the Justice Department for allowing US users to bet on the platform.
