FBI raids Polymarket CEO’s home, seizing electronics amid political allegations

The FBI raided the New York residence of Polymarket CEO Shayne Coplan on Wednesday (Nov. 13), seizing his phone and other electronic devices, the company confirmed.

According to a report by the New York Post, the 26-year-old discovered federal agents in his Manhattan home. The company clarified that Coplan was not arrested.

On Wednesday evening, Coplan posted on X, formerly known as Twitter: “New phone, who dis?”

Polymarket suggested the raid was in retaliation for its users overwhelmingly betting on a Donald Trump victory in the election. Before the election, ReadWrite reported that the site showed a high probability of Trump winning and gave Kamala Harris only a slim chance, a projection that differed significantly from most mainstream polls.

It’s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents. We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting…

— Shayne Coplan