FBI seizes Polymarket CEO’s phone and electronics: report

• The New York Post has published a news story alleging the Federa Bureau of Investigations has seized a phone and electronics from Polymarket CEO.
• Sources reportedly see this as political retriution after the betting market platform predicted the 2024 US election.

The Federal Bureau of Investigation has reportedly seized the phone and electronics of Polymarket chief executive officer Shayne Coplan.

On Nov. 13, the New York Post reported that the FBI seized Coplan’s phone early Wednesday, with sources saying FBI agents raided the Polymarket CEO’s home at 6:00 am. Per the NY Post news, Coplan was in his home in Soho when law enforcement officers seized the gadgets.

While the FBI took his items, the New York said citing sources, they did not detain the Polymarket CEO. Coplan has also not made any public comment on the report as at the time of writing. However, the Post alleges political retribution.

“The government is likely trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump,” the New York Post wrote, citing the unnamed sources.

FBI’s raid and confiscation of the items comes just a week after the betting market correctly predicted the win for Donald Trump in the presidential race.

The president-elect beat Democrat Kamala Harris and has begun to form his cabinet and team, including the formation of the Department of Government Efficiency headed by Elon Musk and Vivek Ramaswamy.