FBI Raids Polymarket CEO's Home After Election Prediction Success

Shayne Coplan's apartment was searched as part of an investigation into potential regulatory violations at his prediction market platform.

Shayne Coplan, founder of Polymarket, had his New York apartment raided by the FBI, sparking controversy over the timing and motives behind the investigation.
Polymarket, a prediction market platform, accurately forecasted the 2024 presidential election outcome, gaining significant attention and use from political figures.
The FBI and U.S. Attorney's Office are investigating whether Polymarket operated as an unlicensed commodities exchange, potentially violating a 2021 consent decree.
Critics suggest the raid may be politically motivated, given Polymarket's impact on election predictions and its perceived disruption of traditional polling methods.
Despite the legal challenges, Polymarket's model of crowd-sourced predictions has been praised for its accuracy, though questions about its business model and legality remain.