FBI Seizes Polymarket CEO Shayne Coplan’s Phone and Electronics After Platform Predicted Trump Landslide
Coplan: “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.”
President Donald Trump’s Federal Bureau of Investigation restructuring cannot come soon enough.
Over the course of the election, many of us followed the presidential election predictions of Polymarket, a decentralized prediction market platform.
Polymarket forecast on October 18th vs the actual results: pic.twitter.com/28C5dcn1SQ
— shaneyyricch (@shaneyyricch) November 7, 2024
Polymarket allows users to bet on the outcomes of various real-world events, including political elections. The platform operates on the Polygon blockchain, utilizing cryptocurrency for each transaction. Users can buy shares representing the probability of specific events occurring, with each share becoming worth $1 if the predicted outcome happens or becoming worthless if it doesn’t.
Apparently, the victory win triggered officials at the FBI. So, the agency conducted an early morning raid on the home of Chief Executive Officer Shayne Coplan.
The 26-year-old entrepreneur was roused from bed in his Soho pad at 6 a.m. by US law enforcement who demanded he turn over his phone and other electronic devices, a source close to the matter told The Post.
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.”
Coplan was not provided with a reason for the raid, but the source suspects it was political retribution since Polymarket accurately predicted an easy Trump triumph over Vice President Kamala Harris – as opposed to traditional polls.
The source also speculated that the government is likely piggybacking off liberal media reports that accuse Polymarket of market manipulation and rigging its polls in favor of Trump.
Coplan was not arrested, and the FBI declined to comment or provide an explanation for the raid.
The FBI declined to comment. The Department of Justice and the White House did not respond to requests for comment on the raid. One French bettor earned over $40 million using the platform.
In the run-up to the presidential election, the site gained widespread attention for the way it placed Trump’s odds high above those of Harris, when opinion polls had for months shown the race in a dead heat.
Polymarket, which does not allow trading in the U.S., also gained scrutiny after a mystery French trader, known as the Polymarket whale, made large bets on Trump winning the election.
The trader’s huge wagers came in tandem with a dramatic rise in Trump’s chances on the exchanges.
He walked away with more than $46 million in profit.
Whoa — Polymarket now suddenly predicting a Trump sweep of *every* swing state AND a Republican sweep of Congress pic.twitter.com/jQwzGw31TX
— Adam Taggart (@menlobear) November 6, 2024
I am sure many traditional pollsters, who work in tandem with the mainstream media to massage polls for “Operation Demoralize,” are delighted at this development. Polymarket was not obligated to call anyone anything, and it merely operated according to the algorithm.
Coplan posted a very upbeat response on X.com:
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 and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election.
Polymarket has provided value to 10’s of millions of people this election cycle, while causing harm to nobody. We’re deeply proud of that.
I’m also proud to say that the future of America, and in particular American entrepreneurship, has never been brighter.
In the face of adversity, we build.
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 🦅 (@shayne_coplan) November 13, 2024
I sure hope Coplan and Polymarket prevail, if everything they have done is legitimate and legal. This move by the FBI is completely on-brand for the Biden-Harris administration.
A representation of the new media and its new pollsters and their relationship to the traditional media and its pollsters. pic.twitter.com/1VcVZrb0kw
— Leslie Eastman ☥ (@Mutnodjmet) November 14, 2024
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Comments
I guess Democrats still have a couple months to get some shit like this done…and then it all changes. The media will all of a sudden take an interest in stuff like this happening to THEIR friends (Democrats) and start reporting its politically motivated…like they should be done now! But aren’t!
The raids are out of control. It was a search warrant for electronic devices. Communicate with the subject and his attorney to turn them over. No need to stage early morning ‘raids’ for this sort of thing, this needs to be reserved for persons with a violent history. LEO, DA and the Judiciary have got to make ‘early morning raids’ the very rare exception rather than the rule. The concept of ‘officer safety’ has been stretched totally out of proportion to any realistic threat level in many cases.
This is what Banana Republic’s do.
Agreed and we have far too many folks in a reflexive ‘back the blue’ near Pavlovian response to these raids who won’t push for simple reforms. Instead they seem willing to allow gross violations of 4A, 2A, 1A.
Here’s how it should work; Knock on the door…You got a warrant? Ok what kind? Search warrant, for what address, this one? sure come on in…but don’t give me any BS about ‘officer safety’ that you think overrides my 1A right to call you every name in the book or my 2A right to be armed (especially in my own home) and follow you around to ensure your search warrant is restricted to the ‘particular things’ to be searched as explicitly listed in the warrant. Your wish to ‘feel safe’ should not Trump the Constitution. An arrest warrant is an entirely different situation.
Ah, but you could delete stuff if you’re asked nicely. Just like you could flush your 2 kilos of blow if they knock on your door to serve a warrant. Of course with modern tech, it’s not like you wouldn’t leave traces. Kinda like the blow still in your toilet because 2 kilos ain’t gonna flush easy.
But the chance you could delete it let’s them play Elliot Ness.
The FBI needs to be shut down and quite a few of these thugs need to be imprisoned. Start with the 50 Crossfire Hurricane agents that were “just doing their jobs” and work your way up.
Agree.
There is nothing the FBI does that cannot be done by a state agency.
If not shut down completely, then curtailed by 90%.
This is troubling… Biden himself was not too upset that Harris lost. The AG has always been acting on Biden’s direction, so it doesn’t seem likely Biden gave the okay to Justice. The AG… why would he care? The election is over and he’s on to other things in a couple of months.
That leaves the FBI. Not just the leadership but at the management level as well. They are acting as a government all unto themselves. This agency has to be dissolved.
Does Mr. Copeland have the right to find out what prompted the raid?
…Coplan
And here we go…….
More of the same. Americans are learning to fear their government and the DOJ is at the top of the list. Needs cleaning out badly. Thus the name Matt Gaetz sends a message.
Someone or someones need to go to prison for a very long time.
If this Polymarket guy violated the law and the government can prove that to a jury then fine.
But – sadly – I think the opposite is true. I believe this is indeed persecution. And if that’s the case then everyone involved should have the entire library thrown at them.
Matt Getz might not be radical enough to displace the deep state.
A Trump-sized footprint should be on every ass at the FBI, IRS and DOJ.
I would like to see the warrant and the name of the judge who signed it. According to Robert Barnes many judges would sign a leaf if it blew across their desks. The whole point of getting a warrant has been subverted. Did the FBI even have a warrant?
The US is starting to look like the Soviet with middle of the night knocks on the door. A quote from Solzhenitsyn’s Gulag Archipelago :
“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?… The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin’s thirst, the cursed machine would have ground to a halt! If…if…We didn’t love freedom enough. And even more – we had no awareness of the real situation…. We purely and simply deserved everything that happened afterward.”
I read the whole book, all three volumes as they came out. Every page, every sentence, every word. This one book changed my whole outlook. Don’t forget his “We didn’t love freedom enough.” Time to stop the abuses. I hope Trump can do it.
The FBI has to be terminated with extreme prejudice and another agency needs to be established that has no former FBI personnel. What was the point of the raid and why at 6 AM? The FBI will get back to you on that. BTW who was the judge who signed the warrant, assuming the FBI had one?
A blind pig could have made the call but libs refusing the data could see it.
These raids by the FBI are ridiculous. Remember Roger Stone? Just showing up demanding electronic devices but not saying why? What the hell is that. If you are seizing equipment or raiding a domicile you should have to spell out why you are doing it.
January can not come quick enough to clean these assholes out of DC
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