The FBI recently raided the home of Shayne Coplan, CEO of Polymarket, a crypto betting platform. The raid was without a warrant, and Coplan was not arrested. The company claims the raid was due to Polymarket correctly predicting the 2024 presidential election and that it is a victim of “political retaliation.” Polymarket is a fully transparent betting and prediction market that allows ordinary people to better understand events that matter most to them.
The company faced a $1.2 million settlement with the Commodity Futures Trading Commission (CFTC) for failing to register with the regulator and will cease operations in the US in 2022. However, Americans can still access Polymarket via a VPN. The Justice Department is investigating Polymarket for allowing US users to bet on the platform, and the CFTC is concerned that prediction markets could undermine the integrity of elections.
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