FBI raids Polymarket CEO's home in investigation of trading practices

insider.com

The FBI raided the home of Polymarket CEO Shayne Coplan on Wednesday, confiscating his electronic devices. This action is part of a Justice Department investigation into whether the company accepted trades from U.S. users. Polymarket is currently unavailable to U.S. customers, although some traders are using VPNs to access the platform. The company is also facing scrutiny from French gambling regulators. In response to the raid, Coplan expressed his disappointment on social media, suggesting it was politically motivated. A Polymarket spokesperson described the incident as "political retribution" by the Biden administration.


With a significance score of 3.4, this news ranks in the top 6.4% of today's 28020 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


FBI raids Polymarket CEO's home in investigation of trading practices | News Minimalist