by WorldTribune Staff / 247 Real News November 14, 2024

The Biden-Harris FBI on Wednesday carried out a raid at the home of the CEO of an election-betting platform that predicted Donald Trump would win the presidency.

Polymarket CEO Shayne Coplan

Polymarket CEO Shayne Coplan was woken up at 6:00 a.m. in his New York City home.

Coplan was not arrested but his phone and electronics were seized, a source close to the matter told the New York Post.

The FBI did not provide Coplan any reason for the raid, but the source said they expect it is retribution for Polymarket’s prediction of Trump’s win which was much more accurate than traditional polls.

The Biden-Harris administration is likely trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump, the source said.

It’s “grand political theater at its worst,” the source told The Post. “They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.”

“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” the source said.

“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” a Polymarket spokesperson told The Post in a statement.

“We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good.”

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  Retribution? FBI raids CEO’s home after election-betting platform called Trump win