On November 13, the FBI raided Polymarket CEO Shayne Coplan’s home in New York City, seizing his phone and electronic devices as part of an ongoing investigation. Polymarket is a blockchain-based prediction market that has gained attention for its $3.7 billion bets placed on the “Presidential Election Winner 2024” market.
The platform accurately predicted Donald Trump’s victory in 2016, raising questions about its influence on public opinion. The raid has sparked backlash from tech leaders, with Coinbase CEO Brian Armstrong and Elon Musk calling it “messed up.”
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