The FBI seized the phone and electronic devices of Polymarket CEO Shayne Coplan early Wednesday morning, just a week after the prediction market platform correctly forecasted President-elect Donald Trump’s victory, a source close to the matter revealed to The Post.
The 26-year-old entrepreneur was reportedly awakened at 6:00 a.m. in his Soho residence by US law enforcement officers who demanded his devices. The source described the incident as “grand political theater at its worst,” criticizing the FBI’s approach. “They could have requested these items through his lawyer,” the source stated. “Instead, they orchestrated a so-called raid, seemingly for the purpose of leaking the information to the media and exploiting it for apparent political reasons.”
According to the source, Coplan was not given a reason for the seizure. However, the source believes the action is likely politically motivated retaliation for Polymarket’s accurate prediction of Trump’s win, which diverged from traditional polling data.
The source further speculated that the government may be attempting to accuse Polymarket of market manipulation and rigging its prediction markets in favor of Trump. As of this writing, the FBI has not issued a public statement regarding the seizure.
